UK businesses demand answers on no-deal Brexit

UK business leaders published a list of twenty critical questions for the government to answer in order to prepare for a potential no-deal Brexit.

With the Brexit date only weeks away, the British Chambers of Commerce said its members are very uneasy about many key issues that remain unclear in the case of leaving the European Union without a deal.

The 20 questions, which were directed to key government departments including Treasury and departments for International Trade and for Business, Energy & Industrial Strategy, revolve around issues such as the trade agreements that will be in place between the UK and countries around the globe after the divorce and whether and how firms can move skilled staff between the UK and EU.

These questions directly affect how UK companies operate said the BCC: “the terms of trade agreements can affect pricing decisions, margins, even choice of business location and the geography of supply chains,” the group said.

Examples of questions included: If any trade agreements with third countries are operational on the day after Brexit, what rules of origin will I need to comply with? Will I still be able to fly people and/or goods between the UK and the EU after Brexit day – or could travel be disrupted? Will staff spending longer than 90 out of 180 days in the EU be subject to further administration, costs or visas? Will my business continue to be able to hold and transfer data and personal information without any interruptions after 29 March 2019?

Brexit has already hit some business sectors by“stifling investment and growth”, the BCC said, so UK firms are firmly opposed a disorderly exit from the EU that could have an even harsher impact.

Firms are also concerned the UK government is not prepared for all eventualities which could make matters worse.

Adam Marshall, BCC director general, said: “In less than 50 days, UK firms could face the biggest change to their terms of trade in over a generation, without the information and clarity they need to navigate their forward course.

“There is a very real risk that a lack of clear, actionable information from government will leave firms, their people and their communities hung out to dry.”

“Even those companies trying their hardest to get ready are still in the dark on important matters from contracts through to customs. Many others, who took the decision to wait for the political process to conclude before acting, would face sudden and costly adjustments if a deal is not reached.”