Post-Brexit trade border controls to cost UK $6 billion
Post-Brexit trade border controls to cost UK $6 billion
The UK's public spending watchdog said government expenditures on implementing new rules for post-Brexit imports would total some $6 billion. The report criticized "uncertainty" surrounding government plans.
The UK's public spending watchdog said government expenditures on implementing new rules for post-Brexit imports would total some $6 billion. The report criticized "uncertainty" surrounding government plans.
Britain will spend at least 4.7 billion pounds ($6 billion, €5.5 billion) on implementing a new approach to import goods after exiting the EU customs market in 2020, the UK government's public spending watchdog said on Monday.
The UK voted to leave the European Union in 2016 but remained in the bloc's single market and customs union until 2021.
In 2021, the UK withdrew from the EU customs union and a new EU-UK Trade Cooperation Agreement (TCA) went into effect.
The European Parliament said in a report that the trading of goods between the parties had become "burdensome" since Brexit and trade volumes had shrunk.
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Where I am, there's an import tax on everything you order from the UK
But the post office has slapped their own €8 service charge on top of that
Literally everyone I know has stopped ordering stuff from UK companies
That's really gotta hurt an economy, big time
Yep.
There's dozens of UK companies that have essentially moved their operations to the EU to keep trading.
UK companies that are selling via country local distributors to businesses are doing ok.
But small time B2B and B2C is fucked.
You'd be surprised
John Lewis? Nope
White Company? Nope
Loads of big companies have just stopped delivering to EU
Fuckin nightmare trying to get teabags FFS
The true goal of Brexit, to hoard all our tea 🧐
Yup, we opened an office and warehouse in Germany for EU sale instead of shipping into our UK HQ warehouse and out to the EU. The costs of the new German branch are far less than the costs for shipping into our UK HQ and back out to the EU.