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World

May tackles 'cliff-edge' Brexit fears

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Opening sequence

World

May tackles 'cliff-edge' Brexit fears

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COMING UP:May tackles 'cliff-edge' Brexit fears

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Transcript

00:00:00
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APPLAUSE
>> She's been working hard in recent weeks to reach out to Britain's business community. And as Prime Minister Theresa May addressed the CBI, a leading business organization, Brexit, again took center stage. With easing concerns top of her agenda, May's words hinted at a transitional deal being more likely than a hard exit from the EU.
00:00:20
>> So we learned two important things today. The first is that the government is open to this idea of a transitional strategy after Britain leaves the European Union, to see it through until it's negotiated its new relationship with the European Union. Before, up until now, we hadn't really heard that.
00:00:35
And Theresa May didn't rule that out today and that's certainly a new development in that story. The second thing that we learned is that the government is prepared to put its money where its mouth is when it comes to industrial strategy. It pledged £2 billion of science research innovation funding.
00:00:52
But also it backed away from some unpopular business proposals. So it's keen to get business on side really with the Brexit platform.>> The President of the CBI told the conference that businesses want clarity and above all a plan. Many feel there's still too much uncertainty over what happens next and how Britain's departure will impact the economy.
00:01:13
But Brexit uncertainty isn't spooking everyone. Facebook is to expand its UK presence by 50% next year. The social network firm is to hire 500 new staff as it gears up to open a new headquarters in London. It's joining Google in boosting investment in Britain. Before the referendum campaigners had warned that international companies would seek to reduce their presence in Britain.