March 20, 2018 / 9:30 AM / 9 months ago

UK business lobby says Brexit deal a victory for pragmatism

LONDON, March 20 (Reuters) - The deal on Brexit transition gives British businesses 20 months of valuable time and marks the victory of pragmatism over politics, the head of British business lobby CBI said on Tuesday.

Carolyn Fairbairn, director-general of the Confederation of British Industry, said she was broadly pleased with the transition deal agreed between Britain and the European Union on Monday.

“Yesterday was a good day in the Brexit process. We know how firms have been consistently planning for a hard Brexit,” Fairbairn told an Innovate Finance conference.

“That is 20 months of time that is genuinely valuable. This is the first time we have seen pragmatism being put ahead of politics,” Fairbairn said.

But she added, “The risk of no dea has not completely gone away.” (Reporting by Huw Jones and Emma Rumney)

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