European exporters to the United Kingdom should prepare for a “very hard Brexit” according to a leading German industry group, as negotiations between the political union and the United Kingdom continue to stall.
While British Prime Minister Theresa May attempts to put a brave face on Brexit negotiations, the truth is Britain could leave the European Union faster than previously thought, with a reliance upon World Trade Organisation (WTO) rules.
The group — the Federation of German Industries, whose members including car manufacturer BMW, as well as tech giant Siemens — issued the warning in what Remain campaigners describe as the “worst case scenario”, but which many Brexiteers now believe is a fait accompli.
Known in Germany as the Bundesverband der Deutschen Industrie (BDI), the group has expressed “concern” that the “British government is lacking a clear exit concept despite talking a lot.”
Director General Dr Joachim Lang said: “German companies with a presence in Britain and Northern Ireland must now make provisions for the serious case of a very hard exit. Anything else would be naive.”
He reflected upon how the revent Conservative Party conference showed the government lacked direction on the matter.
Mrs. May has used several occasions — including her United Nations speech in September, as well as her Florence speech on Britain’s moves to leave the European Union — to attack UK allies and future trading partners as well as attempting to appease EU negotiators with financial inducements. Her approach has culminated in reports stating members of the Conservative Party will call for her to resign the position she inherited from David Cameron in July 2016.
Up to 30 Conservative Party MPs are believed to be putting a letter together calling on the prime minister to resign after her disastrous conference speech, which left Mrs. May “extremely distraught”.
While big corporatist supporters such as the Confederation of British Industry (CBI) and the Economist magazine have warned against a “hard Brexit” and reliance upon WTO rules, Brexiteers are optimistic about the situation.
In March Foreign Secretary and PM-replacement favorite Boris Johnson stated: “People are being told that WTO rules would be the end of the world. We need to explain to them why it isn’t”, he added the outcome would be “perfectly OK” for the United Kingdom.
Then Liberal Democrat leader Tim Farron said at the time that WTO rules would lead to “Britain falling into the abyss,” adding: “But ministers, frankly, don’t seem to care.”
Britons were told on the run up to the EU referendum that if the nation voted to leave, the country’s economy would tank, jobs would be lost, and that the globe could even see a world war as a result. None of the predictions bore out. To the contrary in fact, Britain has experienced a ‘Brexit Boom’ since voting to leave the European Union.