Lib Dems urge PM to secure Adjustment Period with EU to give businesses breathing space

The Liberal Democrats are  calling on PM to negotiate an “Adjustment Period” as part of the deal with the EU, to ensure British businesses have enough time to prepare for the new trading relationship with Europe.

In a letter to the Prime Minister, the Liberal Democrats warn of a potentially "existential" threat to businesses if they are not given time to adjust and argue that - by phasing-in new rules, regulations and procedures - businesses would have the "breathing space" they need to prepare and adapt.

Leader of the Liberal Democrats Ed Davey said: 

"Businesses cannot afford to be hit with the double whammy of Covid and disrupted trade with Europe, our biggest trading partner. With job losses already mounting, the danger is unemployment will rise still further in the new year, unless urgent action is taken.

"Despite months of negotiations, businesses are still in the dark about the details of their future trading relationship with Europe. With just weeks to go and our economy on its knees, this is inexcusable.

"The Prime Minister must urgently recognise what's in the best interests of British businesses, and secure a time-bound adjustment period to allow firms to adapt to new trade arrangements and save jobs.”