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Monday, November 21, 2016

British PM Theresa May seeks to calm fears over Brexit

British Prime Minister Theresa May has told business leaders in the UK that while leaving the European Union creates uncertainty in the market, there will also be opportunities for "dynamic trading agreements".
Speaking on Monday at the annual Confederation of British Industry conference in London, May said that the doors would be open to doing business with "old allies" in other parts of the world.
She also said that her government would invest an extra $2.5bn in science research and development by 2020, and committed to plans of the previous government to introduce a 17 percent rate for corporate tax - the lowest in the G20.
"Today, Britain has firms and researchers leading in some of the most exciting fields of human discovery," she said.
"We need to back them and turn research strengths into commercial success."
Al Jazeera's Laurence Lee, reporting from London, said that businesses are worried about the instability caused by the lack of knowledge as to what a "Brexit" - or Britain's departure from the EU - will actually look like.
"Theresa May and the government can't and won't tell [the business leaders] because that will give away their negotiating position to the European Union," Lee said.

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