Arthur J. Villasanta – Fourth Estate Contributor
London, United Kingdom (4E) – The “No-Deal Brexit” the House of Commons will vote on tomorrow will grievously harm the British economy and can’t be managed.
This dire prediction was made by the Confederation of British Industry (CBI), the largest trade association in the United Kingdom whose membership accounts for a third of the country’s private sector-employed workforce.
CBI has good reasons to be alarmed. Prime Minister Theresa May’s hugely unpopular Brexit deal with the European Union will be roundly defeated in the House of Commons tomorrow, Jan 15. May has chosen not to craft a Plan B, and has stoutly insisted her Brexit deal is the only viable option for the UK.
Worse, the country might plunge into a full-blown constitutional crisis tomorrow if MPs plotting to take control of the Brexit process and potentially reverse the referendum result of 2016 have it their way in the Commons.
In an impassioned letter published by the Sunday Express yesterday, May said the failure to deliver Brexit will be “a catastrophic and unforgivable breach of trust in our democracy.” She said not supporting her deal risks the UK leaving the EU with no deal or Brexit not happening at all.
She pleaded with MPs to back her Brexit deal in Tuesday’s Commons vote. May, however, is widely expected to lose the vote on the EU on March 29, whether May’s Brexit deal is passed by MPs or not.
Dire predictions of doom for the British economy and its people following a No-Deal Brexit have been flooding the British press. Among the direst predictions: a contraction of the economy by up to 10% and a massive increase in the number of jobless as businesses close or transfer to the continent.
CBI shares those sentiments. It said a no-deal Brexit is “certainly not desirable” and “the economic consequences would be profound, widespread and lasting.”
CBI Director General Carolyn Fairbairn called on May’s harassed government to immediately craft a plan to avert a No-Deal Brexit and protect jobs should the Commons on Tuesday vote against her Brexit deal agreed with Brussels.
“Make no mistake. No-Deal cannot be ‘managed’,” declared Fairbairn.
She predicts the UK’s economy could shrink by up to 8.0 percent, resulting in less money for the country’s public services. She also said businesses will face new costs and tariffs. UK ports will be disrupted, separating firms from the parts they need to supply their customers.”
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