EU REFERENDUM: Exmouth chamber calls for ‘decisive’ action on economy

PUBLISHED: 13:50 24 June 2016 | UPDATED: 13:50 24 June 2016

Ian MacQueen, chairman of Exmouth Chamber of Trade and Commerce. Picture by Alex Walton. Ref exe 8104-47-11AW

Ian MacQueen, chairman of Exmouth Chamber of Trade and Commerce. Picture by Alex Walton. Ref exe 8104-47-11AW

Archant

The chairman of Exmouth Chamber of Commerce says businesses will want to see market stability and political clarity, after the vote by the UK to leave the EU.

Reacting to the referendum result, Ian MacQueen said the health of Britain’s economy should be the ‘number one priority’.

He said: “In the wake of the electorate’s historic decision to leave the European Union, the immediate priorities for UK business are market stability and political clarity.

“Some businesspeople will be pleased with the result, and others resigned to it. Yet all companies will expect swift, decisive, and coordinated action from the government and the Bank of England to stabilise markets if trading conditions or the availability of capital change dramatically.

“Firms across the UK want an immediate and unambiguous statement from the Prime Minister on next steps, along with a clear timeline for the UK’s exit from the European Union.

“Business will also want to see a detailed plan to support the economy during the coming transition period - as confidence, investment, hiring and growth would all be deeply affected by a prolonged period of uncertainty. If ever there were a time to ditch the straight-jacket of fiscal rules for investment in a better business infrastructure, this is it.

“Businesses need action to maintain economic stability, a timeline for exit, and answers to their many practical, real-world questions about doing business during and after this historic transition.

“Firms want help to get Britain back to business at a time of great uncertainty. The health of the economy must be the number one priority – not the Westminster political post-mortem.”

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