Tharsus CEO Brian Palmer attended the CBI Conference in London this week and took a few moments to share his thoughts on the progress of Brexit with reporters.
The Confederation of British Industry (CBI)’s prestigious annual conference was held on Monday the 19th of November at the O2. The event is always subject to strong media focus as the CBI speaks for around 190,000 businesses, with roughly 1,500 direct and 188,500 indirect members.
This year’s renewal of the CBI conference was titled ‘Business: The Next Generation’. Attendees heard expert insight into the evolving issues that businesses face both now and in the future.
Given recent Brexit developments and Theresa May’s battle to gain support for her draft deal, that topic was high on delegates’ agendas. May herself addressed the conference to emphasise that Britain’s post-Brexit immigration policy would allow businesses to attract the best and brightest from around the world, an attempt to quell misgivings from wider industry.
Brian was interviewed for the BBC, appearing on Business Live and on Radio 5 Live and spoke candidly about his own concerns regarding the current political landscape and the draft Brexit deal. He said:
“When I saw the deal I thought it was slightly confused but, it’s a deal, and I think a deal is a lot better than a no deal.
“We crave a stable environment. The thought of another general election with the increased uncertainty and potential for change is exactly what business doesn’t need at this moment”.
He also noted that Tharsus was having to respond to the ongoing uncertainty by changing behaviour. The business usually holds a week’s supply of components but is now moving to hold stocks for “months rather than weeks”, which has a severe cash flow impact on the business overall. He told reporters;
“Business needs certainty. Without it it’s very difficult to plan.”