Parliamentary suspension: The business world reacts

Figures in the business world have reacted to the news that the UK Parliament is to be suspended until October 14, ahead of the planned Brexit date of October 31.

Prime Minister Boris Johnson has sought approval from the Queen to prorogue parliament.

No motions or questions can be tabled during the suspension, and new laws cannot be passed until parliament returns.

Jenny Tooth OBE - CEO of the UK Business Angels Association

“Brexit has left many UK businesses uncertain of their future. For entrepreneurs in the regions, it will be vital to ensure that they can continue to secure the investment need in view of the loss of European Investment Bank Funds and European Regional Development Funds.

“A no-deal Brexit will hit the regions hardest, especially those businesses which rely on importing or exporting from the EU, and the talent influx of EU members.

“Regardless of the Brexit outcome, I hope that the government will make it their business to support SMEs, entrepreneurs and investors, as well as recognising the importance of angel investing and the tax efficiencies available to encourage this.”

Kate Palmer, associate director of Advisory at Peninsula

“The government’s request to suspend Parliament will bring an immediate halt to any ongoing discussions regarding consultations or legislative bills that stand to affect employment law.

“Whilst this will prevent any new legislation from being passed in the interim, a suspension of Parliament does bring the prospect of a no-deal Brexit on October 31 even closer.

“Currently, the suggestion is that a no-deal would bring freedom of movement to an immediate end, meaning that from November 1 employers’ ability to hire EU nationals not already residing in the UK will be significantly reduced.

“With the above in mind, employers must plan accordingly for the possibility of a no-deal Brexit on 31st October. It is essential that line managers are fully aware of all recent developments and that important information is provided to EU employees in good time.

“Existing policies and business practices, such as those on recruitment and right to work checks, may need to be adjusted and employers should keep their ear to the ground to prepare for every eventuality.”

More to follow.