As the UK and the European Union has not yet arrived at a Brexit deal, British Brexit Secretary Dominic Raab has outlined practical advice for the scenario if the UK leaves the EU without a deal in 2019.
British public broadcaster BBC reports that on Thursday, August 23, Mr Raab said 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”.
24 documents were released, where technical advice and warnings were given to specific industries, including medicine, finance and farming, for example:
– Britons residing elsewhere in the EU could lose access to UK banking and pension services without EU action
– The cost of card payments between the UK and EU will likely increase and would not be covered by a ban on surcharges
– Businesses working with the EU should start readying for new customs checks, and might have to pay for new software or logistical help
– Pharmaceutical companies have been told to store an extra six weeks’ worth of medicine to ensure a seamless supply
– Low-value parcels from the EU would no longer be eligible for VAT relief
– New picture warnings will be needed for cigarette packets as the EU owns the copyright to the current ones.