Brexit is turning Britain into a laughing stock, says Siemens UK boss

The UK chief executive of the German manufacturing group Siemens has said Brexit is making Britain an international “laughing stock”, while urging MPs to pursue a softer withdrawal from the EU. Jürgen Maier said Britain was wrecking its reputation for business stability, putting investment in the country at risk and threatening the economy. A no-deal Brexit would inflict further damage, he said, while urging MPs to reach a consensus and back a customs union with the EU. Writing an open letter to MPs published by the Politico website, he said: “The world is watching, and where the UK used to be beacon for stability, we are now becoming a laughing stock.