Delay to post-Brexit deal costs UK £100m a week, analysis shows
Why the UK is missing out on up to £100m every single week
- New research indicates Britain is losing up to £100m weekly due to the absence of a finalised landmark deal with the European Union.
- A proposed sanitary and phytosanitary (SPS) agreement, designed to align UK and EU standards for animal and plant products, could generate up to £14m daily for the UK economy.
- Despite the government's 'reset' announcement with the EU in May, a key SPS deal for food and drink exports remains unfinalised, leading to criticism from opposition parties.
- The government has defended its ongoing negotiations, expressing disappointment that critics are not supporting its efforts to foster closer ties with the bloc.
- Brexit previously cost UK businesses £37bn in the year to September, with 14% of UK exporters ceasing trade with the EU, highlighting the need for reduced red tape.