Ministers will hold talks with City and business leaders on Wednesday amid mounting concerns about the absence of a Brexit transition deal.
Sky News has learnt that Liam Fox, the International Trade Secretary, will hold a meeting with the heads of five major business organisations, including the CBI, the Institute of Directors and the EEF, which represents manufacturers.
The summit, Mr Fox’s first since the summer, will come days after he was ridiculed when it emerged that he was the only member of a new UK board of trade he was responsible for establishing.
Slow progress in agreeing Britain’s Brexit divorce bill is hampering the Government’s ability to move onto a second phase of talks over the UK’s future trading relationships with the ?EU.
Earlier on Tuesday TheCityUK, an influential lobbying group, issued its starkest warning to date that delays in agreeing a transition period are eroding its potential value as companies activate contingency plans to relocate jobs and investment away from Britain.
Those concerns are likely to be raised at a meeting being held on Wednesday between Stephen Barclay, the City Minister, and a group of fund management industry executives.
The gathering is understood to be the first involving a new asset management taskforce set up to address firms’ concerns about the sector’s prospects.
Sources said that companies including Aberdeen Standard Investments, Janus Henderson, Jupiter Asset Management, Legal & General Investment Management, Premier Asset Management, Royal London Asset Management and Schroders would be represented at the meeting with Mr Barclay.
Source: Sky News