London — After feeling ignored over Brexit for the past four years, British business is hoping for a change of fortune in 2020.
UK companies have had a torrid time since the 2016 referendum, wasting resources on stockpiling and contingency planning in anticipation of cliff-edge deadlines that have come and gone. Johnson’s big election win may have ended the immediate political uncertainty, but there’s still significant doubt over the future relationship with the EU and what it will mean for businesses.
“This is going to be a crazy rush,” said Anna Jerzewska, an independent customs expert and consultant for the BCC. “I don’t think people understand how much we need to do in such a short period of time.” The UK could sign up to widespread regulatory alignment with the EU to limit trade friction, something that would be politically difficult for Johnson, who has pushed Brexit as an opportunity to take back control over Britain’s laws. Or it could refuse — but then it would have to live with extra bureaucracy such as customs checks and new paperwork on commerce with the EU.