Friday, 19 August 2022 – 12:21

Brexit a “complete shambles” says boss of industrial giants ThyssenKrupp

The head of one of Germany’s largest industrial firms in the UK has said, “The Conservative party is failing business in the pursuit of pushing through a Brexit deal”.

Terry Sargeant, chairman and chief executive of ThyssenKrupp in the UK said the party was putting its own survival ahead of industry.

Theresa May was forced to abandon plans for an emergency cabinet meeting pencilled in for Monday to approve a Brexit deal, after a fresh opposition within her cabinet.

Mr Sargeant told The Guardian that no deal could lead to cuts at ThyssenKrupp, which is one of the largest steelmakers in the world, and supplies companies such as Boeing and Airbus as well as UK Ministry of defence.

“It is complete shambles. They have failed business the impact of Brexit for multinationals is disruptive, and could lead to loss of business in Britain” he said.

“In Germany, people look at this and are aghast at what is happening. While in the UK we think about Brexit every minute of the day, in Germany, people think about it for 13 seconds before every quarter and or even trimester.

“We [as business] will make decisions based on ease of trade and attractiveness of the market environment.” Mr Sargeant added.

He voiced that younger people would be worse affected by the decision to leave the EU than his own generation.

“It’s not about me, I’m 57 and will retire in a few years.

“I can retire to Spain. But I am from a working-class background and it is the working man who is going to be hit the hardest. This is about the future generations. I am passionate that we do what we can to stop the damage, that is why I am speaking out.” He said.

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