Brexit - ready or not

Business Daily

BBC

News, Business

4.4 • 796 Ratings

🗓️ 16 October 2020

⏱️ 19 minutes

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Summary

As talks between the EU and the UK enter their final stretch, what sort of Brexit are businesses preparing for? Manuela Saragosa speaks to Chayenne Wiskerke of the Dutch onion growing company Wiskerke Onions which exports to the UK. She also speaks to Martin Bysh the founder of Huboo, a UK fulfilment company which works mostly with the e-commerce industry and exports all over the world. They tell her how they've been coping with the years of uncertainty around the Brexit negotiations. (Picture credit: Getty Creative)

Transcript

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0:00.0	Hello and welcome to Business Daily from the BBC. I'm Manuela Saragossa. In this edition,
0:08.0	there are 76 days to go until Brexit. That's when existing free and unfettered trade arrangements
0:13.8	between the EU and UK expire. We hear from two businesses preparing for uncharted territory.
0:19.4	The governments of Europe are failing their
0:21.9	businesses by not offering us more clarity on what the likely endpoints could be. In the absence of
0:27.9	certainty, exactly how do you prepare except for the worst? And why in the midst of so much uncertainty
0:33.4	they're planning for the worst? Yes, we can adjust to the changes. Yes, we will prepare for the worst
0:38.2	case scenario. But in the end of the day, it will be a negative impact for consumers, product
0:43.8	availability, quality, and in the end, of course, price. That's all here in Business Daily from
0:48.6	the BBC. Brexit has put a trillion euros worth of trade at stake.
0:56.0	And whether that trade will continue to flow freely after January the first next year is in the hands of EU leaders and UK government officials meeting in Brussels.
1:04.9	But hasn't Brexit already happened, you may well ask?
1:08.2	Well, yes, officially it happened this last January, according to the UK government.
1:12.8	But in reality, the UK has been hanging around the departure lounge ever since then. The real Brexit
1:18.0	will happen on January the 1st next year, because that's when existing free trade agreements
1:23.1	between the EU, the world's largest trading bloc, and the UK, the world's sixth largest economy, will expire.
1:29.9	Officials on both sides have warned that unless they can agree on a new trade deal,
1:34.0	exports and imports between the two will, for the first time in decades, be hampered by quotas, tariffs and all sorts of restrictions.
1:41.4	This time the clock really is ticking. A deal needs to be struck in the coming
1:45.3	weeks if it's to be ratified and in place in time for January 1st. But despite more than four years
1:51.7	of often bruising negotiations, there's still plenty the two can't agree on. Will EU vessels
1:57.7	still be allowed to fish in UK waters? And if so, how much will they be allowed to catch?
	...

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