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Britain leaving the EU with no deal would be "extremely bad" for both parties, the former head of the World Trade Organisation (WTO) has said.
'The Brexiters have no more idea in private than they do in public about what they are doing. Predictions based upon their concealed intent project on to them a competence they simply don’t possess.'
His manifest error in declaring there are "no non-tariff barriers" for trade with the EU had business leaders falling off their chairs.
Post-Brexit trade frictions have led to ferry freight flows between Great Britain and the Republic of Ireland dropping by 29% in the first half of 2021.
An additional £600m in costs hit British importers since Brexit came into force, taxes which were not required when Britain was in EU's single market.
Alarm raised over business ‘barriers’ which ‘cost jobs and money in the UK’ – as public unhappiness confirmed. / “no appetite for widespread deregulation or divergence from EU rules” – UK Trade and Business Commission
According to the Bank of England, higher borrowing during the pandemic is to blame for putting more businesses at risk.
Office for Budget Responsibility contradicts government line. / Mr Johnson [Institute for Fiscal Studies] also said the OBR's estimated reduction in trade, productivity, and living standards from Brexit was "bigger than the expected long-run effect of the pandemic".
Brexit has made supply chain "bottlenecks" worse in the UK, according to the independent financial watchdog that provides the government with data.
According to the Office for Budget Responsibility (OBR), shortages across various industries have been “exacerbated” by new immigration rules for EU citizens and trade barriers with the bloc.
The Covid threat to GDP is waning, but don’t expect the pain wrought by leaving the EU to subside any time soon.
The introduction of a new regulatory and customs border has made it more difficult and more expensive to trade with the EU. This impacts UK firms who import and export from and to that market.
Covid-19 has prevented just about all music touring... They will play to packed houses, festivals and stadiums as soon as people are free to attend. But touring for all types of UK musical performers after Brexit is beset with administrative difficulties, barriers to trade and hoops to jump through. It is also exporting jobs and tax income to the continent and beyond.
Just as firms wrestle with a global supply chain crisis and fresh pandemic restrictions, companies in the U.K. and European Union face another looming headache: More post-Brexit red tape.
A former senior civil servant in charge of Brexit planning has warned some British businesses may “give up importing” as a result of new rules implemented in the new year.
Shane Brennan, chief executive of the Cold Chain Federation, discusses new Brexit import rules with Sky's Ian King.
Inflation is rising, worker shortages are grinding us down and consumers are hurting, but No.10 is introducing measures which will make the situation worse
"And for those people blaming who are blaming the EU, it's not the EU's fault. We voted for this."
Scotland’s rural affairs secretary hit out at the UK leaving the EU two years on from the finalisation of a deal to leave the bloc.
Top business body calls for ‘urgent action’ to ease trading barriers.
Sales to trading bloc down more sharply than to rest of world as businesses grapple with delays, extra costs and new red tape.
Business leaders have called for urgent removal of red tape that is damaging trade between the UK and the EU.
Continuing the letter to Jacob Rees-Mogg, reminding him – he seems to need reminding – of the many new opportunities created by Brexit.
"As every single serious economist argued, massively raising barriers with your main trade partner is an extraordinary act of self-harm."
When the Brexit transition period ended, new barriers for UK-EU trade were introduced.