Ministers to Meet with Business Leaders Amid No-Deal Brexit Warnings


On Wednesday, Ministers are set to hold talks with City and business leaders amid increasing concerns regarding the absence of a Brexit transition deal.

Reporters discovered that the International Trade Secretary, Liam Fox, will hold a meeting with the leaders of five major business organisations, including the Institute of Directors,  the CBI, and the EEF, which represents manufacturers.

The summit, the first of Mr Fox since the summer, will arrive days after he was mocked when it emerged that he was the only member of a new UK board of trade that he was responsible for establishing.

Sluggish progress in the finalisation of the Brexit divorce bill of Britain is hindering the ability of the Government to move onto the second phase of negotiations over the future trading relationships of the United Kingdom and the ‎European Union.

Earlier on Tuesday, an influential lobbying group, TheCityUK, issued its most abrupt warning to date that the setbacks in agreeing on a transition period are disintegrating its potential value as companies activate contingency plans to relocate investment and jobs away from Britain.

Those matters are likely to be raised at a meeting that is set to be held on Wednesday between the City Minister, Stephen Barclay, and a group of fund management industry executives.

The gathering is perceived to be the first to be involving a new asset management taskforce that is set up to address the concerns of firms regarding the prospects of the sector.

Sources revealed that companies including Janus Henderson, Jupiter Asset Management, Premier Asset Management, Legal & General Investment Management, Royal London Asset Management and Schroders would be represented at the meeting with Barclay.