Brexit problem: The transition is coming to an end, which worries the UK

Illustrative photo (Source: AFP / VNA)

On December 13, British business leaders expressed concern when they still did not know the commercial terms when trading with the EU from January 1, 2021, when the UK ended the transition period. the official departure from the European single market bloc (Brexit).

Although the business groups welcomed the UK and EU’s agreement to continue the extension of trade agreement negotiations, they also complained that businesses were unable to properly prepare for the UK’s exit from the single market bloc. EU in nearly 20 days due to unclear whether there is a Brexit deal or not.

Mr. Adam Marshall, General Director of British Chamber of Commerce, said the time period from now until the end transition Brexit on December 31 will be “a very stressful time for businesses as they worry waiting for a decision on trade terms with the EU that will come on January 1, 2021.”

But he added: “If the next few hours or days makes the difference between UK and EU securing a trade deal, go ahead – and reach an agreement that offers clarity and certainty. for businesses and both parties’ trade. “

British Industry Federation (CBI) general manager, Tony Danker, said there was a need for parallel planning for January 1, 2021, with or without agreement. He called for a “grace period” for businesses to be able to adjust the new rules.

UK business leaders also want to receive government financial support to help industries that have been hit hard during the pandemic. UK Finance Minister Rishi Sunak said the Finance Ministry’s assistance to businesses coping with the COVID-19 crisis, including state-backed loans, is always available in the event of any problems. any Brexit-related disruptions, but he is also willing to consider “sector-specific” limited aid.

Helen Dickinson, The CEO of the British Retail Consortium, says that while no retailer preparations have been able to completely prevent Brexit-related disruptions, people don’t need to hoard. Retailers are working hard to prepare and stock up on tin cans, toilet paper and products with longer shelf lives, she said.

However, Ms. Dickinson also warned that in the event of a no-deal Brexit, British people will face more than £ 3 billion in food tax because retailers will have no choice but to increase. some additional costs.

“Both sides must make a double effort and do what is necessary to reach a zero tariff agreement, or the people will pay the price for this failure,” Ms. Dickinson said.

Nguyen Thi Minh Trang

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