The leaders of UK business groups are making their case 8 Oct

UK business leaders have been voicing their concerns over PM May's apparent policy to drive for a "hard Brexit" and have written an open letter urging the government to preserve barrier free trade with Europe.

The letter is signed by leaders of the CBI ( Confederation of British Industry) and manufacturers' body the EEF.

It says the way in which the UK leaves the EU and on what terms is critical for jobs and investment in the UK. adding that defaulting to trading by World Trade Organisation (WTO) rules would leave 90% of UK goods trade with the EU subject to new tariffs.

The letter says that would mean 20% in extra costs for the UK's food and drink industry and 10% for car producers. These significant costs would affect British exporters and importers, as well as those in their supply chains, it adds.

"We respect the result of the referendum, but the government must make sure that the terms of the deal to leave ensure stability, prosperity and improved living standards,"

"Every credible study that has been conducted has shown that [the] WTO option would do serious and lasting damage to the UK economy and those of our trading partners."

The letter calls for the government to "give certainty to business by immediately ruling this option out under any circumstances".

It also suggests there is a wealth of evidence to suggest EU negotiations will not be completed within the Article 50 two-year timeframe.

"Many areas of regulation now up for discussion are highly complicated... The government should therefore secure agreement of a transitional period, to ensure that businesses can continue to operate with no 'cliff edge' change to current circumstances until regulatory and legal changes can be implemented."

Earlier today CBI head Fairbairn told the BBC:

"What we would like is a ruling out of the really worst options,"

"It is the investment decisions that are being taken now that make this urgent."

I'm not so sure PM Theresa May is listening right now but she should be.

BBC with more here. Reuters has this

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UK PM May - Business groups are urging her to avoid "hard Brexit"