Prepare for the end of the transition period

The British Chambers of Commerce has published a critical update of its Brexit guidance dashboard containing 26 key questions that remain unanswered with just 98 days to go until the end of the Brexit transition period.

The leading business group published the document alongside new research which suggests business preparation for the coming changes is low due to the unprecedented challenges facing them.

Unanswered questions

The BCC’s Brexit guidance dashboard compiles 35 questions most frequently raised by businesses, many of which apply in a deal or no deal scenario.

The BCC gives just 9 a green status, indicating there is sufficient information available to plan. 19 are amber, indicating some information is available, and seven are red, indicating there is inadequate actionable information.

Many of the unanswered questions reflect fundamental aspects of how companies operate. Among other things:

– firms do not know what rules of origin will apply after the transition period, preventing them and their customers from planning and potentially creating unprecedented new administration and costs;

– there is no clarity on how food and drink due to be sold in the EU and Northern Ireland is to be labelled;

– very limited guidance on the movement of goods from Great Britain to Northern Ireland; and

– no information on the UK Shared Prosperity Fund, key to ‘levelling up’ the regions and nations – despite years of calls for clarity.