Josh Hardie, CBI Deputy Director-General, said:

“By now, few can be in any doubt that ‘no deal’ would wreak havoc on economies across Europe. These papers show that those who claim crashing out of the EU on World Trade Organisation rules is acceptable live in a world of fantasy, where facts are not allowed to challenge ideology.

“It’s right and responsible that the Government have supplied information to businesses on issues from financial services passporting to food labelling, all of which will help lower the risks of the harshest outcomes from a ‘no deal’ Brexit. But without a similar response from the EU, many of these mitigating measures would be blunted.

“The reality is that businesses across the UK have already spent millions of pounds and thousands of hours on getting ready for no deal. Whilst smaller firms simply do not have the resources to assess what the worst-case scenario would mean to their enterprises.

“These technical notices can only be a starting point for the Government. Smaller businesses in particular will need a one-stop-shop where they can get the information and support they need to better understand the issues they would face.

“Above all, negotiators must now get on with finalising a Withdrawal Agreement, putting pen put to paper on a jobs-first transition period and finally, agree on a new relationship that puts people’s livelihoods above politics.”