Industry reacts to Prime Minister's resignation

Latest News Fri, May 24, 2019 9:50 AM

Theresa May will quit as Conservative leader on 7 June, paving the way for a contest to decide a new prime minister.

Mrs May said she will continue to serve as prime minister while a Conservative leadership contest takes place. Once she steps down a leadership contest will begin the following week.

RIBA President, Ben Derbyshire, said the country was simply left in limbo while the clock ticks down to the latest deadline of 31 October.

"While much is uncertain, one thing remains clear – a no deal is no option for architecture or the wider construction sector," he said.

"Whoever becomes the next Prime Minister must focus on taking the country forward with policies beyond Brexit that tackle the major challenges facing the country such as the housing crisis and climate change emergency.”

Carolyn Fairbairn, CBI Director-General, said: “The Prime Minister could not have worked harder to deliver a Brexit deal that protects the economy. She leaves office with the respect of business.

“But her resignation must be now be a catalyst for change. There can be no plan for Britain without a plan for Brexit. Winner takes all politics is not working. Jobs and livelihoods are at stake.

“Business and the country need honesty. Nation must be put ahead of party, prosperity ahead of politics. Compromise and consensus must refind their voice in Parliament.

“We call on politicians from all parties, on all those ambitious to lead, to take this chance for a fresh start.”

Dr Adam Marshall, Director General of the British Chambers of Commerce, wished the Prime Minister well and thank her for her decades of public service.

“Businesses must be reassured that a change at the top in Downing Street does not simply usher in a longer period of posturing and gesture politics," he added. "Westminster has already squandered far too much time going around in circles on Brexit.

“As our global competitors get sharper and more strategic, Britain is still mired in indecision and uncertainty. Drift and lack of direction have real-world economic consequences, brought home to many of our communities not just by high-profile business closures, but by the quiet and growing loss of contracts, investments and jobs.

“The UK is already paying the price for a political system at war over Brexit. Our hard-earned reputation as a great place to do business has been tarnished. And for too long, government has been distracted from working with business to fix the fundamentals here at home, particularly around skills and infrastructure.

“Any leadership contest must be swift and followed urgently by a clear plan to break the impasse. The clock is still ticking down to 31st October, regardless of who is in Downing Street. A new Prime Minister must work to avert a messy and disorderly exit from the EU. At the same time, preparations must continue to ensure that government, its agencies and our communities are as ready as they can be for all possible eventualities.”

Edwin Morgan, Interim Director General of the Institute of Directors, said: “To borrow a phrase, nothing has changed, or at least, very little has. A new leader will be faced with the same political challenges and the same economic realities.

“No deal remains a significant, and growing, concern for businesses, and that cannot be wished away, whoever is in power. When companies and the country need serious, considered decision-making, we have pantomime instead.

“We would ask for politicians to swiftly come to a solution which provides for as smooth an exit as possible, but that feels like a vain hope at the moment.”

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