A recent report published by the BBC quoted UK business leaders calling for a delay in Brexit if no trade deal is reached by the Government with the EU at the end of the two-year negotiating process.
The report goes on to state that, “the British Chambers of Commerce (BCC) also wants businesses to continue to be allowed to recruit skilled and low-skilled EU workers after the UK leaves. The BCC said completing a trade deal within the two years allowed by Article 50 would be the “ideal outcome”. But it continued: “Should this prove impossible, we should seek an extension to the negotiating period to enable completion of both agreements concurrently.”
This does seem like a tall order as such an extension would only be possible if all EU member states agree, a scenario that seems less likely given the tenor of the EU leaders.
Highlighting concerns of UK business leaders the trade body said that businesses were worried about an unexpected VAT hit to their cash flow, sudden changes to regulation, the inability to recruit the right people for the job, or if their products are stopped by customs authorities at the border.
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