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Right, we have 86 days to go until 31st October – Deal or No Deal.  So, what should we expect in the event of a No Deal?

  • Short term disruptions
  • No trade agreement with the EU and we will also lose associated agreements with about 70 countries.
  • UK returns to the World Trade Organisation (WTO) terms until it agrees new deals.

For British businesses trading with the EU, of which there are 250,000 of them – that would mean new customs and border controls and possibly higher tariffs.

  • Immigration rules apply. It will be up to each country to guarantee the rights of their citizens. 
  • UK stops making £9bn a year contribution to EU budget.
  • Likely price increase for goods and services.

The new prime minister has approved over 6 billion to prepare us for No Deal. It looks like we all need to start preparing too.

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