19:42

Business leaders have welcomed the vote on an extension to article 50 but urged MPs not to drop the ball because of extra time.

Edwin Morgan, the interim director of the Institute of Directors, said “few in business will be stepping forward to thank parliament for its efforts this week”, while the British Chambers of Commerce (BCC) said trade was still in the “danger zone” .

While there is widespread relief that a cliff-edge Brexit was now likely to be averted, businesses are desperate for an end to the continuing uncertainty. Adam Marshall, the BCC’s director general, added:

While most businesses will support an extension to article 50 to avert the prospect of a messy and disorderly exit on 29 March, with just two weeks to go this vote leaves firms with no real clarity on the future.

The Food and Drink Federation has warned of catastrophic consequences of a no deal Brexit. Its chief executive, Ian Wright, said:

As the focus moves away from a 29 March 2019 exit date towards a later date, we must not overlook that 29 March is still the date in the Withdrawal Act. It is critical that MPs now follow-through on their intentions with actions. The government must swiftly agree the length of delay with the EU and table a statutory instrument to change that date. Only then can the diversion of time, effort and money towards no-deal planning be halted.

And Morgan added: