The UK's leading business groups have jointly issued a list of priorities as formal Brexit negotiations with the European Union get under way today.

In a letter, the British Chambers of Commerce, CBI, EEF, Federation of Small Businesses and Institute of Directors urged the Government to "engage continuously with UK business interests on the many crucial and complex aspects of our future economic relationship with the European Union".

It comes as Brexit Secretary David Davis heads to Brussels to get the talks started over the UK's future relationship with the EU.

The letter says:

We, the undersigned, represent hundreds of thousands of businesses across the United Kingdom employing millions of people.

The business community fully accepts the decision of voters last June that the UK will leave the European Union.

We have come together to urge the Government to put the economy first as it prepares to start formal negotiations on the UK's departure from the European Union.

This is a deal that when finally agreed will matter fundamentally for the UK economy, for UK companies and for citizens of the UK.

A deal that supports growth will allow companies to hire more people, raise living standards and improve lives across the country.

We call on the Government to ensure that negotiations take place in an atmosphere of mutual respect, and engage continuously with UK business interests on the many crucial and complex aspects of our future economic relationship with the European Union.

If the Government moves forward in real partnership with business, drawing on its expertise, it will be in a strong position to protect and strengthen the UK's economy during this vital period and beyond.

Economic principles for the UK's transition out of the European Union:

• Maintain the economic benefits of the Single Market and the Customs Union until a final settlement between the United Kingdom and the European Union is agreed and implemented;

• Prioritise an early agreement on guarantees for EU citizens, providing much needed reassurance for those already resident in the United Kingdom, and for UK citizens already resident in the EU27;

• Maintain an open frictionless border between Ireland and Northern Ireland; and between Great Britain and the island of Ireland.

Economic principles for a final agreement between the UK and the EU27:

• Tariff-free goods trade between the United Kingdom and the European Union;

• Minimal customs formalities at the land, sea and air borders between the United Kingdom and the European Union;

• Regulatory equivalence and mutual recognition of standards on an ongoing basis to ensure continued mutual access for both goods and services;

• A flexible system for the movement of labour and skills between the United Kingdom and the European Union, that enjoys public support;

• On-going UK participation in those pan-European programmes, initiatives and agencies which add real economic value to communities, businesses, young people and universities;

• Protection of the benefits of free trade agreements currently delivered through the European Union.

We recognise these are high-level principles, in an environment of great complexity and detail.

We will work closely with each other and with government to explore ways to give effect to these principles.

Adam Marshall, Director General - British Chambers of Commerce

Carolyn Fairbairn, Director General - CBI

Terry Scuoler, Chief Executive - EEF

Mike Cherry, National Chairman - Federation of Small Businesses

Stephen Martin, Director General - Institute of Directors

What do you think? Email mark@moosemarketingandpr.co.uk 

Readers' views:

Mike Lawrence: A very disappointing and detached-from-reality begging bowl by UK groups

Look at the underlying economies of the EU countries to realise what is really going on. Not an academic point but one which will show how the trade deal will work.

Do you want all you ask for from Greece, Italy, Portugal, Spain and others because it's not quite the same as dealing with Germany?

You must always keep a very close eye on whether they are in a state where they can afford matched investment opportunities or even just paying their regular bills on time.

You are not always dealing with the EU itself but more the individual countries.

Greece has been in problems for years and Italy was told in February this year to sort out its public debt by April.

It seems not to have done so. In the South, 10 per cent live in 'absolute poverty' (a condition characterised by severe deprivation of basic human needs, including food, safe drinking water, sanitation facilities, health, shelter, education and information.) The North is better but at 6.7 per cent, rising at one per cent a year, is only relatively better.

Trade depends on a good economy underlying it. That is why the UK and USA are top of the preference list for refugees. They know what to look for, it seems many of our business people don't.

Plus, as Daniel Hannon pointed out, if we remain in the Customs Union we have a situation where the EU can change the rules with the stroke of a pen and we would be unable to do anything about it.

I am well traveled in Europe and have seen first hand what quite a few countries are like and the publicity and the reality tend to be wide apart and getting wider.

Be very careful what you wish for - there are very real dangers if you actually get it.