U.K. Risks Plunging ‘Off Cliff’ on Brexit, BT Chairman Says
- BT chairman urges government to take its time on Brexit
- Rake says Brexit worries starting to undermine U.K. bonds
Pound Rises as May Promises Parliament Vote on Brexit
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The U.K. shouldn’t “walk off a cliff” as it leaves the European Union, BT Group Plc Chairman Michael Rake said in one of the most strident criticisms by a corporate leader of Prime Minister Theresa May’s response to the Brexit vote.
Rake’s comments followed indications at the Conservative Party’s conference last week that May was leaning toward a so-called hard Brexit, in which the U.K. would lose its membership in the EU’s single market but attain tighter control over immigration.