The CBI has welcomed the government’s plans to add a new clause to the Brexit Bill to rule out any extension to the transition period beyond the end of 2020, adding that firms stand ready to support the government in getting a good trade deal agreed as quickly as possible.

CBI director-general, Carolyn Fairbairn said businesses have had enough uncertainty and share Prime Minister Johnson’s ambition for a fast EU trade deal.

“With only a year to go, we are committed to working with the government to secure an ambitious deal that supports all sectors of the economy. Every step in the negotiations will have an impact on jobs, firms and communities,” she said.

“Speed and ambition can go hand in hand if the right approach is taken. There’s no time to lose, with a top priority being to build a best-in-class trade architecture, with business round the table, enabling EU trade talks to begin early in the new year. Firms stand ready to bring the evidence needed from factories and boardrooms across the UK to enable a good trade deal to be agreed as quickly as possible.”

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