Traders Face Odds Of ‘No-Deal’ Brexit

In August the government released 84 documents explaining preparations for a no-deal Brexit scenario.

The governments explanatory papers offer advice on a range of issues, including rural businesses and the importing and exporting of firearms, however a customs broker has warned that customs processing could rise by 500 per cent.

George Baker, the boss of one of the UK’s largest customs brokers, is warning of the impacts on traders if there is no deal to leave to European Union and told the BBC it will be “very difficult to cope” without a Brexit deal in place. The Government papers warned importers and exporters to “begin taking steps to mitigate against” a no-deal exit.

Mr Baker’s firm submits electronic declarations on behalf of import and export traders. He commented: “There are many businesses which hadn’t considered they may need a customs broker.

Brexit Secretary Dominic Raab said that reaching a deal with the EU was the “overriding priority” and “by far the most likely outcome” but that “we must be ready to consider the alternative”. Bookmakers have a no-deal Brexit odds-on at 4/6.

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