MPs write letter urging May to avoid No Deal Brexit
By Julian Shea in London | China Daily UK | Updated: 2019-01-07 22:31
The letter was made public on the same morning as a major logistical exercise involving 100 lorries was taking place near the English Channel port of Dover, to assess the traffic impact of queues and delays which could be caused around key ports by a no-deal Brexit.
Another warning to the prime minister over the potential damage caused by the lack of clarity over Brexit has come in a survey carried out by Britain's leading manufacturing organization, the EEF.
A poll of more than 240 companies conducted in November revealed that more than 75 percent of them said the prospect of border delays post- Brexit posed a risk to their business.
"While companies are naturally optimistic by their very nature, the spectre of Brexit is now very front of mind for manufacturers," EEF Chief Executive Stephen Phipson said.
"This is bringing with it a whole host of risks from increased exchange rate volatility to rising input costs which right now are very difficult to plan for."
The survey also revealed that 62 percent of manufacturers were planning to stockpile goods in the run-up to Brexit, because of the uncertainty of what would happen after it, something which had been reported last week as providing a temporary lift to Britain's manufacturing sector.
However, the use of those stockpiled items, rather than the need to place new orders, could cause a negative impact post-Brexit.