Key business lobby warns UK not to play favorites in Brexit

A key business lobby warned Britain's government on Feb. 13 not to play favorites among industries when it negotiates the country's exit from the European Union, saying that ignoring any sector would hurt the entire economy.

The Confederation of British Industries and the international law firm Clifford Chance also said in a new report that it is critical for the government and the EU to have some sort of agreement in place by the end of the legally mandated two-year negotiating period to avoid "significant commercial and economic disruption."

The report reflects increasing anxiety among some businesses that the government hasn't been open enough about its goals for Brexit and that their concerns are being drowned out by the needs of banks and fund managers.

The Times of London reported last week that a leaked report showed the government had divided British industries into high, medium and low priority in the Brexit negotiations - giving some sectors priority at the expense of others.

"To be a success, the UK's new relationship with the EU must meet the needs of our whole economy - covering business in every sector, size and location - as the consequences of leaving any part behind could have knock-on effects for others," Josh Hardie, deputy director-general of the business lobby, said in the report.

The Confederation of British Industries says it represents about 190,000 businesses that employ 7 million people, or a third of Britain's private-sector workforce.

The report comes as Parliament debates legislation that would give Prime Minister Theresa May the authority to trigger two years of negotiations on Britain's future relationship with the trading bloc of 500 million people.

If there is no agreement...