'Flexible extension' to Article 50
Business groups, including the British Chambers of Commerce (BCC) and the Confederation of British Industry (CBI), have commented on the six-month 'flexible' extension of Article 50, granted to the UK by EU leaders.
The extension potentially pushes 'Brexit Day', the day when the UK officially leaves the EU, to 31 October 2019.
Reacting to the news, the BCC stated that the flexible extension is 'preferable' for most businesses. It said:
'Politicians must urgently agree on a way forward. It would be a disaster for business confidence and investment if a similar late-night drama is played out yet again in October.'
The CBI said that UK businesses will now 'adjust their no-deal plans' instead of cancelling them. Carolyn Fairbairn, Director General of the CBI, said:
'For the good of jobs and communities across the country, all political leaders must use the time well. Sincere cross-party collaboration must happen now to end this crisis.'