CBI welcomes Brexit extension

CBI responds to new Article 50 extension
The EU have granted the UK a six-month extension to Brexit

The Ibec/CBI Joint Business Council (JBC) have welcomed the European Council decision to extend the Brexit deadline until 31 October 2019 in the hope of avoiding a no deal Brexit.

According the CBI, leaving the EU without a deal would immediately jeopardise years of positive economic development and integration across the UK.

Commenting on developments, CBI NI Director Angela McGowan said: “This new extension means that an imminent economic crisis has been averted, but political compromise and a fresh approach are needed. More of the same would just mean more chaos this autumn.

“The impact that Brexit uncertainty is having on business investment is clear, in the coming months rebuilding confidence and boosting investment will be critical to support the all-island economy.”