Key facts
- UK businesses do not want a rerun of the Brexit referendum, according to CBI director-general Rain Newton-Smith.
- Newton-Smith stated that Brexit has created undeniable costs for businesses.
- She noted that business leaders are not seeking to reopen the debate or rejoin the EU customs union.
- The CBI chief warned of the risk of Britain being excluded from European value chains due to protectionist policies.
- She expressed concern about the UK being caught between US and Chinese industrial competition.
Ten years after the United Kingdom voted to leave the European Union, the leader of the country's largest business lobby group has stated that businesses are focused on future challenges and do not wish to revisit the referendum.
CBI director-general Rain Newton-Smith told the Financial Times that while the economic costs of Brexit are clear and indisputable, businesses are not seeking to re-litigate the decision. She emphasized that none of the business leaders she speaks with want to reopen that debate.