Brexit news: Lord Campbell-Savours backs German campaign to stop vote to leave EU | Politics | News

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The Labour Peer Lord Campbell-Savours has promoted the German “New Deal for Britain” campaign during a Brexit parliamentary debate.

The German “New Deal for Britain” initiative is headed by former Presidents of the Federation of German Industries, businessmen and economists.

During the debate, Lord Campbell-Savours quoted MEP Hans Olaf-Henkel who claimed that Brexit is a “lose-lose situation” and stressed that the UK needs to strike a new deal with the EU instead of withdrawing.

Lord Campbell-Savours said: “The key point here is that this was tabled by German industrialists. It shows the movement in opinion in different parts of Europe.

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The German campaign is dedicated to stopping Brexit

“These German industrialists are not only speaking for British and German interest, they are also speaking for a wider Europe.”

The Labour Lord claims that at the heart of the Leave vote lies the public’s worries over their border so a new deal would address these issues.

Mr Henkel, MEP of the German Party “Liberal Conservative Reformists (LKR)” and one of the lead signatories of the initiative said: “If we can’t stop Brexit we should derail it, because it’s still better than crashing into each other.”

The German MEP began his campaign, “Exit from Brexit with a New Deal for Britain and the EU” last year along with Henreich Weiss and Michael Rogowski, three former Federation of German Industries (BDI) Presidents last November.

Mr Henkel constantly claims that Brexit will not only damage the UK but also Germany.

He said: “It is so obvious, Brexit will result in a lose-lose situation for both, Britain and the EU.

“To negotiate a trade agreement with a new partner like Canada or Japan is one thing, but to disentangle trade relationships of thousands of companies which have grown over 40 years is quite another.

“Existing complex logistic chains, supplier and customer relationships would be suffering from Brexit, regardless whether soft or hard Brexit, with and without longer adjustment periods.”

Mr Henkel cites a study from consulting firm Deloitte that sales of carmakers in the Single Market will decrease by 20 per cent in the case of Brexit.

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The Labour Lord claims the heart of the Leave campaign was border issues

According to the study, sales losses will drop to the level of the financial crisis in 2008 in the case of a hard Brexit.

The study also reports that 60,000 jobs in Germany’s car industry are dependent on these exports and 18,000 of these jobs are endangered by a hard Brexit.

The main reason for this loss would be the price collapse of the British pound, which leads to an increase in German car prices in the UK.

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Mr Henkel has always called Brexit a ‘lose-lose scenario’

Cars made in Germany could become 21 per cent more expensive in the UK after a hard Brexit, according to the study.

He added: “We appeal to all responsible politicians in Britain as well as on the continent to help avoid that two high-speed trains are running towards each other on the same track.

“Together with the significant negative impact of Brexit on the remaining 27 countries, justifies the EU offering Britain a deal which avoids a tragedy of historical dimensions.”



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