Business groups warn David Davis of Brexit's risk to jobs as clock ticks on transition deal in a letter to government

 
Lynsey Barber
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The clock is ticking on making transition deal details (Source: Getty)

Business groups are piling pressure on government over the crucial details of a transition deal, warning that jobs are at risk without an urgent agreement "as close as possible [to] the status quo", it's been reported.

Leading business groups have joined forces to urge David Davis that an agreement is needed "as soon as possible" in a letter to the Brexit secretary, Sky News reports.

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It includes the Confederation of British Industry (CBI), Institute of Directors (IOD), British Chamber of Commerce (BCC), Federation of Small Business (FSB) and EEF, the manufacturers organisation, according to the report, representing millions of businesses across Britain between them.

It comes just a fortnight after the chairman of Royal Bank of Scotland (RBS) warned that banks are poised to trigger contingency plans with time running out.

The business groups have been contacted for comment.

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"Agreement [on a transition] is needed as soon as possible, as companies are preparing to make serious decisions at the start of 2018, which will have consequences for jobs and investment in the UK," said the letter, seen by Sky News.

"And the details of any transitional arrangement matter: the economic relationship the UK and EU has during this time-limited period must match as close as possible the status quo."

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