News Obiaks News

British business leaders from across the United Kingdom have expressed their concerns over what could be a potentially swift transition period post-Brexit and demanded for a three-year transition period at least.

These business leaders include companies such as BT and Centrica.

In a letter organized by the Confederation of British Industry (CBI), more than 100 companies employing a total of more than one million people in Britain and the European Union said they needed to make decisions now about investment that will affect jobs in the future.

"Until transitional arrangements can be agreed and trade discussed the risk of ‘no deal' remains real and has to be planned for, with inevitable consequences for jobs and growth on both sides," it said.

However, the European Union negotiators have consistently maintained that until their 27 EU governments are satisfied with the terms of Britain's departure, there can be no discussions regarding future UK-EU trading relationships.

Meanwhile, Britain's Prime Minister Theresa May sparked outrage in August when her office asked British businesses to append their names to a letter in support of the country's approach to Brexit. This idea however never came to fruition.

"Businesses across the EU and UK are clear: being able to plan for a transition of up to 3 years that avoids a cliff edge is critical for our collective prosperity," the letter organized by the country's leading trade body said.