Firms to face uncertainty as Brexit talks continue

Firms have said they face ongoing uncertainty in the coming weeks as Brexit negotiations continue “past the 11th hour”.

The UK and EU agreed to continue post-Brexit negotiations after Boris Johnson and European Commission President Ursula von der Leyen discussed “major unresolved topics”.

The pair agreed to continue talks to see whether an agreement can be reached at this late stage.

The British Retail Consortium (BRC) warned that without a deal, businesses will face additional costs and would have no choice but to pass on some of the costs to customers, resulting in higher prices during 2021.

Helen Dickinson, CEO of the BRC, said:

“With many people’s finances already strained by the economic impact of coronavirus, households can ill-afford a significant rise in food prices. For the sake of customers and businesses around the UK, we need a deal in the next three weeks.”

Adam Marshall, director of the British Chambers of Commerce, said:

“This is a very frustrating time for business as they anxiously wait for decisions about the terms of trade with the EU come Jan 1. If a few more hours or days makes the difference, keep going – and get an agreement that delivers clarity and certainty to businesses and trade on both sides.

“Businesses will need time and support to adjust in a New Year like no other – whatever the eventual outcome.”

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