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Monday, September 11, 2017

Threat to business from Brexit widens

“Implementing Brexit: Customs”, an analysis from the Institute for Government think tank, has concluded that leaving the EU customs union after Brexit threatens to cost UK firms more than £4bn a year and trigger enormous disruption to trade.

They say that Up to 180,000 traders would be hit by pulling out of the EU’s free trade area, imposing red tape at borders and that the daunting task of making Britain “ready for day one” requires changes at more than 30 government departments and public bodies, as well as around 100 local authorities.

The Independent adds that Calais, Dunkirk, Rotterdam and other European ports would also have to prepare to avoid disruption:

Joe Owen, the Institute’s senior researcher, said: “The problem is that everyone from port operators to small traders can only undertake limited preparation while future arrangements are so uncertain.

“When it comes to customs, business faces a canyon, not a cliff edge. Disruption can be caused from either side of the border, and we are reliant on the successful preparation of our European partners too.

As frightening as this is, it is still mind-boggling that the UK Government do not appear to have grasped the dangers to our economy nor do they seem to be put into place the necessary preparations to deal with the issues raised by the report.
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