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BREXIT No Deal Proposals Set Out By UK Government

23rd August 2018

How things will change under BREXIT from the EU is still essentially unknown but today the UK government published its thought on a NO Deal situation by 29th March 2019.

Food, Credit Cards, Farm Payments, Banking, Finance, Atomic Agreements, Money Laundering and much more. Today saw the publication of the first batch of 25 technical notices (including this one). More technical notices will be published in September to set out further details of how this scenario will work and what businesses and citizens should do to prepare. These notices are meant for guidance only. Businesses and citizens should consider whether they need separate professional advice before making specific preparations.

Preparations for possible scenarios such as -

- Britons will have to pay more to make credit card payments in the EU.

- Businesses on the continent could be cut off from investment banks in London.

- Britons living in the EU could lose access to their UK bank accounts.

- Companies trading with Europe would face new paperwork to cover customs and safety declarations.

- Britain will unilaterally accept some EU rules and give EU financial services firms continued access to the UK market.

- The UK will recognise EU standards for medicines. This means that drugs from the bloc won't need to be re-tested in the UK.

- Contingency plans to avoid shortages of medicines.

Thousands more civil servants are being recruited to deal with the huge array of details and for border controls.

To see many more details on the No Deal situation if it happens go to - https://www.gov.uk/government/publications/uk-governments-preparations-for-a-no-deal-scenario

Secretary of State Dominic Raab's speech on no deal planning

https://www.gov.uk/government/news/secretary-of-state-dominic-raabs-speech-on-no-deal-planning

Department For Exiting The European Union

https://www.gov.uk/government/organisations/department-for-exiting-the-european-union