In the Brexit latest, ThyssenKrupp UK chief executive officer and Chairman Terry Sargeant has described Brexit as a “complete shambles”.
ThyssenKrupp is a German multinational and one of the biggest civil engineering firms and steel producers.
Talking to The Guardian, he said the Conservative government, who are traditionally known for supporting business through lower taxes and policies like privatisation, have “failed business”.
He said: “The Tory party aren’t making decisions for business, they are making decisions to prevent an implosion in their own party.
“If you make a market more difficult than it is at the moment, then what is the attraction to the investor?
“I do not see how we can continue doing business where supply chains are so interlinked with being part of the customs union.
“Once the UK leaves the customs union there will be barriers and possibly duties and tariffs to be paid. At the very least there will be paperwork. These are the very real concerns companies like us have.”
Boris Johnson: UK is about to accept the status of a colony of EU
The EU has rejected UK Prime Minister Theresa May’s plan for a mechanism that would let Britain end a temporary customs arrangements with Brussels.
Negotiations between the UK and the EU are set to continue and the November summit where a Brexit deal was expected to be agreed seems unlikely.
Under these circumstances, former foreign secretary and Brexiteer Boris Johnson wrote in The Telegraph that the backstop will keep Britain in a customs union that would be worse than staying in the EU.
He said: “Under Article 50, the UK is at least able in theory to leave the EU. We do not have to consult any other authority.
“But under these proposals, we are agreeing that the EU would have a say on whether this country is capable of making that final exit from the EU’s essential institution, the customs union.
“In other words, we are on the verge of signing up for something even worse than the current constitutional position. These are terms that might be enforced on a colony.”
Shadow Brexit secretary: Brexit can still be stopped
Labour MP Sir Keir Starmer, shadow Brexit secretary, told Sky News: “Brexit can be stopped. But the real question is, what are the decisions we’re going to face over the next few weeks and months?
“Decision one is on the deal; decision two is: if the deal goes down, should there be a general election?
“And decision three is: if there’s no general election, all options must be on the table, including the option of a public vote.”
The Labour party have said they will vote against a Brexit deal when it comes to the House of Commons if it does not meet Labour’s six tests.
Shadow foreign secretary Emily Thornberry told the BBC: “All the options remain on the table and we would campaign for there to be a people’s vote.”
She said this scenario would only happen in the situation where MPs reject the deal agreed with Brussels and there is no general election for leadership of the country.