Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

British firms may accelerate no-deal plans, says CBI chief

Rather than put Brexit preparations on hold many UK companies are likely to accelerate their no-deal contingency plans despite plans to renegotiate a withdrawal agreement with the EU, says British trade association leader.

British companies are more likely to accelerate their no-deal plans rather than stall them, despite UK lawmakers voting to reopen Brexit talks in Brussels in the hopes of securing a better deal, CBI Director General Carolyn Fairbairn said in an interview with the BBC.

Fairbairn said labelled the government’s plans to renegotiate a new deal with the EU ‘a real throw of the dice’.

‘I don't think there will be a single business this morning who is stopping or halting their no-deal planning," she said. ‘I fear they may even be accelerating it.’

Theresa May seeks to reopen Brexit talks with EU leaders

Following a vote in parliament in favour of returning to Brussels to seek the removal of the Irish backstop – a policy aimed at avoiding a hard border in Ireland – the British Prime Minister Theresa May is looking to reopen talks with EU leaders.

May is desperately hoping that EU leaders will agree to remove the Irish backstop as it has become a major point of contention among pro-Brexit MPs in her own Conservative party and it is unlikely that she will have the necessary support to get a deal through parliament without the concession.

However, many are questioning the point of May returning to Brussels after EU leaders have repeatedly told her that they will not change the legal text of the deal.

British businesses in ‘despair’ over Brexit, says CBI chief

Fairbairn also said that many small and medium-sized businesses in the UK are underprepared for the Britain bailing out of the bloc without a deal in place on March 29.

‘I think the kind of concerns that people have around disruption are absolutely right,’ she said. ‘No deal is just not manageable at this stage.’

Other business associations have been vocal in their opposition to Britain leaving without a deal, with the Director General of the British Chambers of Commerce Adam Marshall calling on the government to take a no-deal Brexit off the table.

‘Neither government nor many businesses are ready for a no-deal exit in two months' time, and it must not be allowed to happen by default,’ he said.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Trading around Brexit

Find out how Britain’s EU exit continues to affect traders, and discover:

  • How you can trade on Brexit
  • The markets you should be watching
  • Brexit trading strategies for key assets

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Sunday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.