Brexit Bill becomes law, allowing Britain to leave the EU

Carmakers warn ‘there is no Brexit dividend’

Carmakers warn ‘there is no Brexit dividend’

With the likely trading and regulatory environment once Britain leaves the European Union next March still uncertain, businesses are becoming increasingly vocal.

The house of lords of the British Parliament finally approved the government version of the bill on the output of the United Kingdom from the European Union on 20 June.

Most of the changes were overturned by narrow Commons votes.

A Downing Street spokesperson said that the premier had opened a Cabinet meeting this morning by marking this "historic moment for our country and a significant step towards delivering on the will of the British people".

The government must maintain the existing customs union membership and single market benefits as part of its Brexit negotiations or risk causing grave damage to the United Kingdom vehicle industry, Society of Motor Manufacturers and Traders (SMMT) chief executive Mike Hawes has warned.

The Society of Motor Manufacturers and Traders claims investment in auto production fell by nearly half in the a year ago.

"Production output has fallen alongside slowing demand in the new vehicle markets; job cuts have been announced and investment has stalled, with just GBP347.3 million earmarked for new models, equipment and facilities in the United Kingdom - nearly half the sum announced in the same period previous year", it said.

Chief Executive Mike Hawes said the British government's insistence that the United Kingdom will leave the EU's tariff-free single market and customs union "goes directly against the interests of the United Kingdom automotive sector, which has thrived on single market and customs union membership".

He says there is no credible plan for "frictionless" customs arrangements with the EU.

Dr Robertson said he would "hate" it if the United Kingdom was "knocked off course because of some changes in the political environment", but added: "Knocking off course does not mean a complete U-turn".

Uncertainty is already having an impact.

"The UK government and the European Union will need to agree on all aspects of regulatory alignment, which is of the utmost importance, without jeopardising the integrity of the single market", they added.

The EU Withdrawal Bill is just the first major hurdle on the path of Brexit for the United Kingdom government, with other significant bills on future trade and customs ties with the EU set to return to the House of Commons after the House of Lords' interventions.

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