International Trade Secretary Liam Fox has said “intransigence” from the European Union is pushing Britain towards a no-deal Brexit.
With less than eight months before Britain exits the European Union, Fox has put the odds of the UK leaving the EU without a deal at 60-40, according to Sky News.
Only 6% of FTSE 350 company secretaries believe the overall British economy will improve in the next year, while more than half believe the economy’s health will decline, according to a poll from the Institute of Chartered Secretaries and Administrators (ICSA) and the Financial Times.
In an interview with The Sunday Times, Fox said: “I think the intransigence of the commission is pushing us towards no deal.
“We have set out the basis in which a deal can happen but if the EU decides that the theological obsession of the unelected is to take priority over the economic wellbeing of the people of Europe then it’s a bureaucrats’ Brexit — not a people’s Brexit — [and] then there is only going to be one outcome.”
Fox’s prediction comes amid growing fears about the potential collapse in talks.
The announcement follows a meeting of the UK Fashion and Textile Association (UKFT), including retailers Marks and Spencer, Ted Baker and Primark, and senior civil servants, in July to outline the practical issues that need to be addressed as the UK negotiates its exit from the European Union.
Drapers has contacted the Department of International Trade for further comment.