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Money Talks from The Economist

Money talks: B&B — Brexit and Business

Money Talks from The Economist

The Economist

Finance & Economics, Business News, Economy, News, Business

4.41.2K Ratings

🗓️ 19 February 2019

⏱️ 16 minutes

🧾️ Download transcript

Summary

It is not yet clear how Britain will leave the European Union on March 29th. But for companies that have to ship stuff to the other side of the world, Brexit has already arrived. What are British companies doing to prepare themselves for Brexit and what effect will this have on the British economy? Richard Cockett hosts

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Transcript

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0:00.0

It was the night before Christmas when all through our home.

0:04.0

Friends were waiting for drinks at the party we'd thrown.

0:07.0

With an espresso martini mixer from Fever Tree,

0:10.0

all you need to add is the vodka you see.

0:14.0

Five espresso martinis ready in a second,

0:18.0

a Christmas miracle everybody reckoned.

0:21.0

So this holiday season mix with the best with fever tree cocktails for you and your

0:27.1

guests please enjoy responsibly. Hello and welcome to Money Talks. I'm Richard Cockett, the business editor of the

0:40.0

Britain section of the Economist. How exactly Britain the appear willing to leave a final decision until the last possible minute.

0:54.0

But the companies that have to ship stuff to the other side of the world,

0:58.0

Brexit arrived early.

1:00.0

A container ship can take up to six weeks to sail from Britain to South Korea or Japan.

1:09.0

The bare moths that set off from Felixstowe docks today and tomorrow will be sailing into the unknown.

1:15.8

They might arrive in a post-Brexit world.

1:19.3

UK Ministers are hurrying around to sign new trade deals with other countries or continuity agreements

1:26.6

post Brexit with those countries that currently enjoy trade deals with the EU.

1:32.3

But this doesn't help businesses now. They are trying

1:35.1

to operate in the face of enormous uncertainty. On this week's money talks we

1:40.9

are asking the questions how are UK businesses preparing for Brexit?

1:45.4

What plans have they already put in place?

1:47.8

And how much will it cost them?

1:49.5

Well, we are saying and advising companies to do is to take the minimal steps needed to mitigate against impact that are truly business critical, that are truly

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