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UK business says Brexit extension averts crisis

AP  |  London 

One of Britain's leading business lobby groups says the extension granted to the country at a summit in overnight means an "imminent economic crisis" has been averted.

However, the is warning that a fresh start is needed to avoid more acute uncertainty in the run up to the new Oct. 31 deadline.

CBI director-general, Carolyn Fairbairn, said businesses will be adjusting their plans to cope with a potential 'no-deal' later in the year but won't be cancelling them.

She says Britain's leaders must make productive use of the time afforded by the extension announced by the EU following hours of discussions.

"Sincere cross-party collaboration must happen now to end this crisis," she said.

Cross-party talks between the government and the opposition have not produced a breakthrough in the Brexit impasse.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 11 2019. 12:25 IST