Brexit

Speaking ahead of the announcement of the next Prime Minister, plumbing entrepreneur and founder of Pimlico, Charlie Mullins OBE said:

“Isn't it about time we all stopped living in denial of a few basic facts about the 2019, pre-Brexit world that we find ourselves living in? And that goes double for prime minister elect, Boris Johnson.

Firstly, it's a forgone conclusion that Boris Johnson will be the next inhabitant of Number 10. There will be lots of paper printed in next 24 hours, but none of the speculation is worth the cover price, since the only other candidate, Jeremy Hunt, will not get close to winning.

Theresa May advised UK firms to stockpile essential goods in preparation for a no deal exit from the European Union back in August. A few months on, businesses are questioning what their future looks like after 29th March.

Despite being told that stockpiling ahead of Brexit is a ‘sensible’ idea by the prime minister, retailers and stockists have received no real guidance from the government in regards to what, and how, they should be stockpiling. Lack of clarity when it comes to who is expected to do what in the event of a no-deal Brexit, has left businesses having to prepare for any eventuality. And with the uncertainty of a post- Brexit Britain, many companies are making the decision to store a surplus of vital products.

Checks – a timing issue

Family owned insulation manufacturer, SuperFOIL Insulation estimates that a no-deal Brexit could cost it £45,000 to £85,000+ per year.

SuperFOIL’s estimate is based on a report published by HM Treasury at the end of 2018 which calculated that a no-deal Brexit could make the UK’s economy 9.3 percent smaller over 15 years.

The analysis also shows that the impact for manufacturers in a no-deal scenario would be the equivalent to, on average, 9 to 17 percent of the value of EU trade compared to today’s arrangements.