Brexit Risk Register
The British Chambers of Commerce (BCC) has published two-dozen top real-world questions being asked on Brexit by businesses across the UK .
In the aftermath of June’s European Council summit – with little progress made in narrowing the gap between the two sides – and ahead of Cabinet deliberations later this week on the UK’s negotiating stance, the BCC warns that continued uncertainty on firms’ day-to-day P&L questions is causing a significant slowdown in business investment.
The leading business organisation is calling on the UK government to draw a line under internal political debate and deliver urgent clarity on the practical, detailed issues that underpin trade – or face a continued deterioration in investment intentions and confidence as the clock ticks down to the October deadline to complete the UK’s Withdrawal Agreement.
As HM Government negotiates a future partnership between the UK and the EU, the BCC is assessing progress on 24 business-critical issues. Following the publication of UK government contingency planning, and as negotiations continue, we find that 17 issues remain ‘red’, 6 ‘amber’ and 1 ‘green’. Still in the red include;
- On Tax, will services firms need to be registered in every EU Members State where it has clients
- On Tariffs, what Rules of Origin firms will have to comply with to receive preferential tariff rates
- On Customs, whether goods will be subject to new procedures, and delayed at border checkpoints
- On Regulation, whether checks on goods conducted in the UK will be recognised by the EU
- On Mobility, whether businesses will be able to transfer staff between the EU and the UK using the same processes as currently
- On R&D projects, whether UK businesses will be able to participate in EU projects after 2020