New Brexit checks to cost UK business £330m a year

New post-Brexit border checks set to come into force in 2024 will cost UK companies at least £330m a year, Rishi Sunak’s government has admitted.
Additional red tape on food, animal and plant products imported from the EU had been due to be phased in from October – but was pushed back amid fears the extra costs will add to inflation. A Tory Cabinet Office minister revealed the expected annual cost in an answer to a senior Labour MP, following warnings from industry it will push up prices and drive some small firms out of business. Baroness Lucy Neville-Rolfe said: “It will depend greatly on how businesses adapt their business models and supply chains to integrate the new controls regimes.” “We estimate these new costs of the model at £330mn p.a [per annum] overall, across all EU imports,” she wrote in the letter to Stella Creasy, chair of the Labour Movement for Europe.

https://www.independent.co.uk/news/uk/politics/brexit-checks-costs-uk-eu-b2421940.html

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