News Formal

Factbox: Industry reaction to UK PM Johnson's Brexit statement

  • 📰 Reuters
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Prime Minister Boris Johnson said it was time to prepare for a no-trade deal Brexit in 10 weeks as the European Union had refused to negotiate seriously, adding that unless Brussels changed course there would be no agreement.

FILE PHOTO: Britain's Prime Minister Boris Johnson in Downing Street in London, Britain October 8, 2020. Aaron Chown/Pool via REUTERSHELEN DICKINSON, CHIEF EXECUTIVE OF THE BRITISH RETAIL CONSORTIUM:

Government must do what is necessary to agree a zero-tariff agreement, or else it will be the public that pay the price.”“Few would doubt that getting ready for no deal in the middle of a pandemic will be a Herculean task for many businesses. Our figures show that most directors think that COVID will magnify the impact of no deal.

“In the event of a no-deal Brexit, shoppers will - literally - pay a heavy price. Imported food and drink from the EU will face eye-watering tariffs, averaging 18%, and kick-starting price rises. “The last time we were told to prepare for a no-deal scenario you saw a big uptick in stockpiling. There simply isn’t the cash or staff capacity to make that possible this time round, with a lot of employees still furloughed amid weak demand.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Boris Johnson says UK heading for a no trade-deal Brexit with EU - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I'm selfish, impatient and a little insecure. I make mistakes, I am out of control and at times hard to handle. But if you can't handle me at my worst, then you sure as hell don't deserve me at my best.
Source: BusinessInsider - 🏆 729. / 51 Read more »