London, Europe Brief News – It’s been more than a year since the Uk’s Departure from the EU’s Trading structure and people are having different opinions on that decision.
Chair of the prominent parliamentary committee said “The only discernible impact of Brexit on British Businesses so far is Increased costs, Paperwork and border delays”
Prime minister Boris Johnson warned businesses that new border controls are subject to further disturbance.
Committee Chair Dame Meg Hillier said, “One of the greatest promises of Brexit was freeing British Businesses to give them the Headroom to maximise their productivity and contribution to the economy”.
The post-Brexit trade deal has hit Uk big time as they are missing the EU preserves market access on goods without tariffs and Quota charges. Uk’s decision to leave the EU has also increased extra bureaucracy and costs for traders.
MP Jacob Rees-Mogg said “It’s clear that EU exit has had an impact, and the new border arrangements have added costs to business”
He also acknowledged that the trade volume has been on hold due to Covid’19 restrictions and global pressures.
The committee which observes the public spending showed that the recovery from Covid led to an increase in passengers.
An increase in the number of passengers and new checks at port resulted in more border disruption.
Post Brexit EU Entry/Exit System
A new EU entry/Exit system will come into action in September which brings a threat to the time taking process for the passengers travelling from Uk to the EU.
According to reports, the new automated IT system for travellers will be applicable on Uk since it is outside the EU’s Schengen Zone. The EU launched complete Import control on goods from Britain right after the Brexit transition period expired.
The MP added further that there are still certain things to do to help Small and medium-sized businesses to avoid new border charges and red tape.
However, The committee said “ Arrangements for checking goods arriving from the EU are untested and could be exploited, increasing regulatory and fiscal risks”
And this could well be the main reason for putting marginal delays In place for new infrastructure.
The committee also added that the government is planning to build the most effective and efficient border in the world by 2025.
