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Britain is aiming to agree with the EU on Dec. 14 to move the Brexit talks on to the second phase.Senior executives in the financial services sector, which accounts for about 12 percent of the economy, told Reuters that May's efforts to secure a transition deal had come too late and they had no choice but to start restructuring.Britain and the EU are working to get talks back on track this week but the chairman of one large international bank said its executives had decided to plan for the worst at a conference call on Tuesday.Around 30 percent of Britain's food and drink comes from the EU.Were tariffs or border delays to make Irish beef less competitive, supermarkets could look further afield, for instance to Argentina.Many manufacturers are unwilling to sign off on new plans until they know how Britain will trade in the future.Having a transition deal would allow businesses to survive the two years after Brexit by allowing them to defer any big decisions until the final parameters of Brexit are worked out, said Andrew Bonfield, finance director of National Grid and chairman of the 100 Group of finance chiefs.
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