º£½ÇÊÓƵ

Ex Tesco chief Sir Terry Leahy has raised fears over a “chaotic” no-deal Brexit, urging the government to finally make a decision and ease damaging uncertainty to business.

Sir Terry spoke exclusively to Business Live on subjects including B&M, the future of the high street and Everton Football Club’s plans for a new stadium.

Most recently, he’s invested in Liverpool-based media, music and performing arts specialist LMA.

Despite not being one to be overtly outspoken on his political views, Sir Terry was vocal in his support for Remain during the EU referendum, warning that food prices would rise as a result of Brexit.

Speaking at the International Festival for Business in Liverpool days before the June 2016 vote, he said the º£½ÇÊÓƵ faced the prospect of a “major recession”, higher tariffs and capital flight should the º£½ÇÊÓƵ vote to leave.

Now Sir Terry has hit out at a potential “chaotic” no-deal, as well as the uncertainty that has surrounded ongoing negotiations for nearly three years since the vote.

He explained: “They key thing for the economy is to have certainty, because investors from all over the world need to feel absolutely sure before they invest. The uncertainty is a problem, we need to create a climate of confidence. That’s what’s been missing.”

At present, the º£½ÇÊÓƵ is set to leave the EU on October 31 with or without a deal. But with a Tory leadership contest underway, it's still not known whether there will be a withdrawal agreement - or even a General Election or second EU referendum.