- Analytics
- News and Tools
- Market News
- Brexit disruption ‘significant’ even with a deal - watchdog
Brexit disruption ‘significant’ even with a deal - watchdog
Bloomberg reports that according to the U.K.’s public spending watchdog, companies face major upheaval at the end of the year due to Brexit even if Britain and the EU sign a free-trade agreement.
“There is likely to be significant disruption at the border,” the National Audit Office said in a report on Britain’s Brexit readiness published Friday. “Many traders and third parties will not be ready for new EU controls.”
The NAO report, which lists multiple areas of risk in the government’s Brexit planning, highlights the looming dangers for commerce between the U.K. and its largest trading partner. From Jan 1., even with a trade deal, businesses will need to file new customs paperwork and comply with new government IT systems to cross the border.
The problems highlighted by the NAO include a failure to expand the number of customs intermediaries to handle post-Brexit paperwork, meaning some companies will have to stop trading with the EU. Household names including Tesla Inc. and Kraft Heinz Co. have been among those that have struggled to source the necessary manpower.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
