Brexit 10 years on: UK business opposes referendum rerun, says CBI chief

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.

The comments come on the tenth anniversary of the referendum, amidst calls for closer ties with Brussels and scrutiny of the Labour government's trade deal with the EU, which some specialists and economists argue has not delivered substantial growth.

Newton-Smith acknowledged that Britain, outside the EU, faces the risk of being excluded from continental value chains due to Brussels' increasing adoption of protectionist 'buy European' policies. She warned that the UK is caught between the industrial power of the United States and China, describing it as a 'lose-lose' outcome and urging that politics should not impede mutual competitiveness.

She also noted that five years ago, businesses might have supported joining the customs union, but the current reality and global landscape have shifted, with CBI members no longer making such requests.