Trade barriers following a “no deal” UK could cost Brexit householders £1,000 ($1,300) per year because of tariffs, import barriers, increased paperwork and customs delays, according to a report by consultancy firm Oliver Wyman. It also said companies like supermarket chains would see profits fall by a third, even after the best possible UK deal. UK-supporting economists said the report was “alarmist”, although they admitted there might be a short-term hit from leaving the EU. The government has said it wanted the Brexit’s relationship with the EU to be as frictionless as possible.
Trade barriers following a “no deal” Brexit could cost UK householders £1,000 ($1,300) per year because of tariffs, import barriers, increased paperwork and customs delays, according to a report by consultancy firm Oliver Wyman. It also said companies like supermarket chains would see profits fall by a third, even after the best possible Brexit deal. Brexit-supporting economists said the report was “alarmist”, although they admitted there might be a short-term hit from leaving the EU. The government has said it wanted the UK’s relationship with the EU to be as frictionless as possible.