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No deal Brexit plans revealed

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Just hours after Brexit secretary Dominic Raab said he remained confident that UK and EU would reach a deal, the government has now told companies trading with the EU that they would face a tangle of red tape, possible border delays, and more costly credit card payments if the government fails to negotiate an exit deal before March next year.

Around 80 technical notices are expected over the coming weeks. The 25 published today include these consequences:

  • There would be an unprecedented sudden increase in red tape for Britain’s trading businesses
  • The financial services industry would be extremely badly hit
  • UK workers would lose the right to claim compensation when companies go bust
  • The pharmaceutical industry would face a scenario of having to register medicines twice
  • Future generations would lose opportunities to study abroad, and universities would lose access to billions in research funding
  • Online shoppers and holidaymakers will face higher credit card fees when buying goods from the EU in the event of a no deal Brexit

“We have a duty, as a responsible government, to plan for every eventuality,” Raab had said earlier today, adding: “To do this, we need to have a sensible, responsible and realistic conversation about what a no deal situation really means in practise.”




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