Chamber of British Industry (CBI) boss Carolyn Fairbairn has been repeatedly accused of peddling Project Fear warnings on Brexit. Ms Fairbairn renewed her calls for the Government to secure a deal with the European Union to avoid potential economic disruption, insisting appropriate measures should be taken to limit the impact of a no deal. But BBC business reporter Dominic O’Connell challenged her outlook by pointing out CBI predictions had not taken place: “Just very quickly on the Project Fear stuff.

“Looking on social media, you’ve got a campaign saying, ‘we weren’t wrong about our predictions about the economy after the referendum.’

“It’s something people say about the CBI, you overcooked what damage the referendum would do to the economy.”

Ms Fairbairn defended the group’s economic forecasts, insisting the CBI matured a “50-year track record” in helping Britons make “fact-based” decisions.

She said: “We did make some projections in 2016 that some people have said were wrong and we’ve just gone back to say that actually, they were pretty well right on investment, 26 percent on-trend, GDP numbers are bang on right.

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“And on jobs, because our projections were for after the UK leaves the European Union and we haven’t done it, it’s too early to say.

“I think it’s quite important, we have a 50-year track record of evidence-based, fact-based economic analysis – that is what we are bringing to the table here to try and inform the right decisions.”

Ms Fairbairn dismissed claims leaving without a deal in October will help provide business with certainty as she renewed her call for compromise within the Government and with the EU.

She continued: “Business is hugely concerned about no deal.

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“They are having to make all sorts of plans and put lots of cost in place.

“If you look at what no deal actually means in practice, it will mean hundreds of small deals that will have to be put in place.

“It will mean uncertainty running on for months and years afterward. It is a myth that no deal would bring certainty – the majority of businesses are concerned it brings more uncertainty.”

She added: “My call to the Government was a plea of compromise.”

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Boris Johnson said he has been working with Brussels to thrash out a new arrangement instead of the withdrawal agreement Theresa May struck with the EU last year.

Mr Johnson met with Jean-Claude Juncker and Michel Barnier earlier this month to discuss his proposals for an alternative to the controversial Irish backstop after the bloc originally refused to renegotiate.

The Government confirmed last week the EU was provided with a draft proposal which is set to be followed by an official paper outlining the UK’s plans for a new deal.

Mr Johnson is due to meet his European counterparts and Mr Juncker at the next EU Summit scheduled for October 17 in Brussels. 

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