‘Existential threat’ posed to some UK industries by increased tariffs and customs checks, according to report
- Ben Chapman
A no-deal Brexit would cost companies in the UK and the EU £58bn a year, with Britain’s financial services sector taking the biggest hit, according to new research.
The additional direct “red-tape cost” of tariff and non-tariff barriers would be £27bn to UK firms and £31bn to their EU counterparts, a report from consultancy Oliver Wyman and law firm Clifford Chance estimates.
“These increased costs and…