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Hard Brexit announcement spells trouble for Danish businesses

Britain’s Prime Minister Theresa May sets the course for a “hard” Brexit, which would prove troubling for Danish businesses. According to the Confederation of Danish Industry, the announcement creates room for negotiation.
Britain’s Prime Minister Theresa May emphasised in her speech on 17 January that she is not entering the upcoming negotiations with a desire for confrontation with the EU.

Publiceret: 26.01.2017
Af Felix Bekkersgaard Stark mail

Britain cannot be part of the EU’s single market once negotiations about the country’s exit from the EU have been finalised.

That was the hard line taken in Prime Minister Theresa May’s long anticipated speech on Tuesday, 17 January, 2017, regarding the country’s position in negotiations.

“If realised, Theresa May’s proposal for a ‘hard Brexit’ will have evident consequences for Danish businesses. If the UK ends up completely outside the single market and customs union, it will have consequences for Danish businesses, which will experience barriers and reduced market access as well as poorer protection of their British investments,” says Director of European Affairs Anders Ladefoged, DI.

Hardest on the Brits

He emphasises, however, that a “hard Brexit” will be hardest on British companies and the British population.

“Today, just under half of their exports go to the EU’s single market, so it’s going to hurt if a goodbye to the single market obstructs those exports. In comparison, only 10 per cent of EU-27’s total exports go to the UK. 6 per cent of Danish exports go to the UK,” says Anders Ladefoged.

In her speech, Theresa May emphasised that she is not entering the upcoming negotiations with a desire for confrontation but expects negotiations that will provide benefits for both parties.

“The day’s speech is troubling news, but it is, after all, only a starting point for a negotiation process from the British side of the negotiation table. By signalling a hard break, May creates room for negotiation in the forthcoming negotiations regarding British access to the European market and vice versa. This question remains far from resolved,” says Anders Ladefoged.

If the UK ends up completely outside the single market and customs union, it will have consequences for Danish businesses, which will experience barriers and reduced market access as well as poorer protection of their British investments.
DIRECTOR OF EUROPEAN AFFAIRS ANDERS LADEFOGED, DI
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PUBLISHED: 1/26/2017 LAST MODIFIED: 1/26/2017