Business calls for stability after election delivers hung parliament

Business leaders are calling on politicians to deliver stability in the wake of the General Election result which saw the Conservative’s lose their Commons majority.

The Federation of Small Businesses (FSB) has called for political stability and a delay to the beginning of Brexit talks in the wake of the result, which has created massive political uncertainty. Those talks are set to begin in 11 days.

Meanwhile, the Confederation of British Industry (CBI) has called for politicians to “get their house in order.”

FSB National Chairman Mike Cherry said: “In the coming hours and days, business needs immediate reassurance from the government that emerges about how it will protect the economy from any political turmoil.

“The UK must be seen to remain open for business, with a government committed to supporting enterprise.

“It is important to go into the Brexit talks from a position of strength, focused on getting the best deal possible for trade and access to workers and skills.

“Negotiations should be led by a government and a Prime Minister that will be in place for the duration, and so we call for a delay to the scheduled start of negotiations rather than a rush to begin in 11 days' time.

“The need for a transition period now becomes even stronger, providing the time to get Brexit right.

Carolyn Fairbairn, CBI Director-General, said: “This is a serious moment for the UK economy. The priority must be for politicians to get their house in order and form a functioning government, reassure the markets and protect our resilient economy.

“Politicians must act responsibly, putting the interests of the country first and showing the world that the UK remains a safe destination for business. It’s time to put the economy back to the top of the agenda.

“For the next government, the need and opportunity to deliver an open, competitive and fair post-Brexit economy that works for everyone across all our nations and regions has never been more important.

“This can only be achieved if the next government doesn’t put the brakes on business, remains open to the world and sets out a pro-enterprise vision.

“Firms will support the UK develop our inclusive, innovative and open economy. More than ever, the new government must work together with business to make the most of the opportunities ahead. “Firms can provide the evidence, ideas and solutions from the shop, office and factory floor to secure our future prosperity.”