AUSTRALIA’S tech leaders are warning that they cannot be in an “insecure” position if Britain leaves the EU without a deal, as the country prepares for the end of its relationship with the EU.
Key points:David Cameron has faced criticism over the decision to leave the EU, but he has said he will stick to the plan for a post-Brexit UKThe US is also pressing the UK to hold a referendum on Brexit by June 30If Britain leaves without a trade deal by June 2020, it could trigger a trade war with the US, but the US is not willing to take the risk.
“I think the best outcome for the country, as a matter of principle, is a Brexit without any tariffs or any obligations,” Australian chief executive of technology company Infosys Tim O’Reilly said on Monday.
“The US wants to stay in a customs union with us.
So I think it’s very hard to see the country leaving the customs union.”
Mr O’Neill said he was worried about what could happen if the UK left without a customs agreement.
“There’s a lot of pressure for us to be part of a customs deal.
If we leave without that, then we’ll be at the back of the queue,” he said.”
So if we leave, we’ll have to negotiate our trade with the other side.”
The Australian government has been one of the strongest proponents of a post Brexit trade relationship with Britain.
Mr O”We need to get this right, we need to be in the best possible position for the British people.
We need to protect the British economy and make sure that our own industries are protected.”
Infosys is a global technology company that provides IT services, software and infrastructure.
It was founded in 1899 and is the world’s largest private technology company with operations in more than 190 countries.
The company was incorporated in the UK in 1971 and is now headquartered in London.
“This is a unique opportunity for the UK.
It’s a fantastic place to invest in our own future and the British Government has made it clear that it will be the key to our future prosperity,” Mr O’Neil said.
The Australian Government is calling on the UK Government to hold an early vote on June 30, to allow for a vote on the Brexit deal and a decision by the British public on whether to stay or leave the bloc.
“If you leave without an agreement, the UK will not be able to negotiate a trade agreement with the United States,” Mr Cameron said last week.
“In the event of a no-deal Brexit, Britain would have no access to the European Single Market and our relationship with our closest trading partner in the world would be severely damaged.”
The US has also said it will not sign a deal without a “fairer” deal.
The White House has also raised the possibility of a “Brexit without tariffs”.
“We don’t want to be the last country to leave,” Mr Trump said last month.
“We’re going to negotiate and negotiate and we’re going not be the only country to go.”
Mr Cameron’s government has also called on the EU to negotiate on a post 2020 trade deal, in an attempt to avoid a trade conflict with the UK and avoid “dire economic consequences” for both sides.
The Government has also put forward a proposal for a referendum to decide the UK’s future relationship with Europe.
“As soon as we’ve had an opportunity to look at what we need in terms of a trade arrangement, we will make that case to the British Parliament,” Mr Osborne said.’
No deal’ would lead to ‘significant economic damage’The UK is one of only four European Union members to not hold a trade referendum.
The UK has said it would hold a vote next year if it does not receive a deal from the EU before June 2020.
The European Commission has previously said it does want a deal but does not want a “no deal” outcome.
The US, Canada and Australia have also said they do not want to have to leave without a free trade agreement.
Mr Cameron said he wants the UK “to stay in the customs bloc” and he is confident the US would be “a better partner” if the two sides could work together on trade.
“At this stage, the US can’t possibly take the risks of leaving the EU,” Mr Farage said on Saturday.
“That would be catastrophic.”
The EU is due to hold another trade conference next month.