In this file photo taken on March 28, 2018 An anti-Brexit demonstrator waves a Union flag alongside a European Union flag outside the Houses of Parliament in London. – The British government said on September 7, 2020, that it was taking steps to “clarify” how Northern Ireland’s trade will be handled after Brexit, but insisted it remained committed to its EU withdrawal agreement and the province’s peace process.
The problem is not the customs duties, largely eliminated by the post-Brexit free trade agreement between London and Brussels, but rather a mountain of new regulatory paperwork. The company is far from alone in struggling with the consequences of Brexit, with 56 percent of UK businesses facing difficulties adapting to new trading rules, the British Chambers of Commerce said Wednesday.
The government of Prime Minister Rishi Sunak has said it believes the UK economy has entered a recession on fallout from sky-high inflation. According to King’s College London economist Jonathan Portes, “there is a reasonable degree of consensus that Brexit has reduced UK trade by perhaps 10 to 15 percent compared to a no-Brexit scenario”.