Trade Experts Say Making Brexit Official Will Continue To Diminish Uncertainty

Trade experts at law firm Irwin Mitchell expect the business community to welcome the triggering of Article 50, saying that it is another step towards diminishing the economic discord created by months of uncertainty over Britain’s future within the EU.

The Prime Minister triggered Article 50 today meeting the Government’s self-imposed deadline of March 31^st.

Laurence Gavin, a Partner and trade expert at the national law firm, said that now the initial shock of the Brexit vote had passed, businesses would welcome the certainty that Article 50 being triggered had to offer, in that they can put a potential end date on the process thus enabling them to make better plans.

Expert Opinion

Right from the vote we’ve been advising clients to hedge their risks and not take big commercial bets until the shape of Brexit starts to emerge. Anything which diminishes the uncertainty is really positive. Even though there is still a way to go, triggering Article 50 should start to make the game become clearer which is immeasurably helpful for businesses. Laurence Gavin - Partner

Laurence said that there is an opportunity for the negotiators to create a “wonderful business climate” allowing firms to plan for the future and open dialogues with the rest of the world, and urged leaders from both the UK and the EU to enter Brexit negotiations with open minds.

Expert Opinion

It is now incumbent on all UK businesses to look outwards and make new links in all parts of the world. However while we may be leaving the EU we are not leaving Europe and British businesses must ensure we can continue to act as a welcoming bridge for companies around the world looking to trade with us and our European neighbours.

London specifically will always be a convenient location with a strong financial centre where people around the world like to do business and it would be a shame if we don’t capitalise on that in Brexit negotiations.

That said, businesses need to keep eye on the tone of debate regarding the UK’s so called ‘divorce payment’ or fee for leaving the EU on favourable trade terms and rapid progress is needed for a transitional deal.

The key thing is that the Government isn’t overly aggressive at the early stages of negotiations because laying down demands and drawing red lines is a risky and dangerous strategy. There are virtues of cooperation at an early stage and the idea of each side walking away and erecting barricades seems both unconstructive and unlikely. Laurence Gavin - Partner

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