German firms should prepare for a no-deal Brexit, the head of the BDI Federation of Industry has warned. "A hard Brexit would be disastrous," he said as the UK prime minister fights for approval of her exit deal.
The automotive, aerospace, chemical, pharmaceutical, engineering, and electrical industries would be hit the hardest by a no-deal Brexit, Dieter Kempf told Funke Mediengruppe on Saturday. Service industries such as banking and tourism would also be affected, he said.
The consequences of a no-deal, hard Brexit would be felt by companies and workers in Britain and across Europe, Kempf added.
UK Prime Minister Theresa May has repeated her mantra that there is no alternative to her Brexit plan. Writing in The Sun newspaper on Sunday, May said there was no other approach that the UK could agree with the EU.
May faces opposition to her plan from within her own Cabinet and in Parliament, whereby current estimates she would be several votes short of the number necessary when the assembly comes to vote on the exit deal in December. May may also face a challenge to her leadership in a no-confidence vote being prepared by hard-line Brexiteers in her own party.
However, some Conservative lawmakers who campaigned against Brexit have warned their party hard-liners they would act to prevent a no-deal Brexit. "Be very clear," wrote Alistair Burt, a minister at the foreign office. "If an agreed deal on leaving between the Govt and the EU is voted down by purist Brexiteers, do not be surprised if consensus on accepting the result of the Referendum by Remain voting MPs breaks down. Parliament will support no deal."
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