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Business reassured

Javid eases concerns over ‘non-alignment’ with EU

Sajid Javid 2

Sajid Javid: clarification

Chancellor Sajid Javid has eased business concerns over his comments on non-alignment with EU rules in a post-Brexit Britain.

After causing alarm over suggestions last week that there would be no consistency with EU regulations, Mr Javid said the UK would use the power to diverge from Europe only when it was in the interests of business.

Answering questions from UK chief executives at the World Economic Forum, Mr Javid said “it doesn’t mean we will diverge for the sake of it”.

Business group the CBI welcomed the clarification that there could be scope for continued alignment for key industries.

Some business leaders attending a lunch with the Chancellor in Davos said they had made it clear to him that unnecessarily introducing friction into manufacturing supply chains would reduce, not increase investment spending.

He said the government wanted freedoms is to help forge new trade deals with, for example, the US.

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