The Prime Minister has written to Donald Tusk to request a short extension to Article 50. Catherine McGuinness, Policy Chair at the City of London Corporation, said:

"We now have nine days to ensure that a no-deal Brexit is avoided, which would be a catastrophic own goal impacting on consumers, households and businesses both in the UK and EU. Sustained uncertainty is leaving business with its hands tied, reluctant to make everyday decisions on recruitment, expansion, and investment.

“We urge the EU to agree to an extension. But even if this is granted, it should not simply paper over the cracks as we risk facing another cliff-edge just around the corner.

“More than ever, politicians on both sides of the Channel need to be pragmatic and co-operate in order to find a long-term solution to the current impasse. We cannot continue driving down this road to nowhere.”

Notes to editors

The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk