Jun 20, 2018

Siemens UK boss says no-deal Brexit does not look good

The UK should should remain in the customs union after Brexit unless there is a proper alternative, the boss of Siemens UK has said. J├╝rgen Maier, chief executive of the German firm's UK operations, told Reuters contingency planning for Brexit was "Very difficult" as "We don't know... what we are planning for". Negotiators in London and Brussels are aiming to reach a final Brexit deal in October, so that it can be ratified by 29 March when the UK is due to leave the EU. "We need to put something in place quickly that works and if that is not possible, and until that point, then we have to just default to staying in the customs union," Mr Maier said. Last week, the outgoing president of the CBI said sections of UK industry faced extinction unless the UK stayed in the EU customs union. The government said it was "Focused on delivering a Brexit that works for the whole of the UK". But Mr Drechsler blamed a "Tidal wave of ideology" for the government's Brexit approach.

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