The Farmers’ Union of Wales has renewed calls for Article 50 to be revoked to allow the UK to ‘take back control’ and deliver a smooth Brexit that does not threaten millions of livelihoods.
The call came after a report by capital markets think tank New Financial estimated that banks are moving around £800bn in assets as a result of Brexit, and that this and other moves by financial firms could reduce UK tax receipts by 1%.
Speaking shortly after 10 Downing Street admitted talks with the EU were in deadlock, FUW President Glyn Roberts said: “It’s clear from the turmoil in Westminster that we need a return to order and stability, rather than the uncertainty and disarray currently affecting businesses across the UK and further afield.
“No responsible Parliament or Government would allow us to leave the EU without an acceptable agreement, and having to rapidly negotiate an Article 50 extension with 27 other countries places us in an incredibly weak position and is likely to see us back in the current state of deadlock in a few months time,” he said.
Mr Roberts said that revoking Article 50 - a policy first agreed at an emergency meeting of the union’s presidential team and committee chairs in mid January - was the only option which would take back control over the process and return us to a situation where a smooth and orderly Brexit was possible.
“Yes, that will delay Brexit, but attempting to rapidly withdraw us from a political and trade relationship built up over almost half a century is simply reckless and unrealistic.”
Mr Roberts said that farms, like other businesses, were desperate for stability.
“Those who are enthusiastic about Brexit should also be realistic about the dangers of getting it wrong, and the need for an orderly withdrawal over a realistic timescale.
“The damage being done by the current strategy to businesses, our economy, our international reputation and our political parties is apparent, and revoking Article 50 is one way of allowing us to regain order and control over an anarchic situation which is likely to get worse,” he added.