Government Brexit Preparations

Government Brexit Preparations

Talks with the EU

14 October 2019

It appears that negotiations between Britain and the EU have renewed and that prospects for a new deal prior to Brexit on 31 October have improved. It is believed the Prime Minister is considering compromising on the conditions required for any satisfactory settlement of the Northern Ireland border question.  The Daily Telegraph is stating that details have already been shared with contacts within the European Union, and that further discussions have taken place this weekend.

It seems likely the results of these discussions will shortly be revealed.

Government Preparations

On Tuesday, 8 October, Michael Gove, the Chancellor of the Duchy of Lancaster, gave a House of Commons statement on the measures the government has taken to ensure Brexit is successful. These are based on the premise Britain will be leaving the EU on 31 October whether or not a deal has been obtained.  They have been published in the CDL’s ‘No Deal Readiness Report‘.

  • Brexit funding increased from £4 billion to £8 billion.
  • 750 pieces of guidance for businesses, traders and citizens created.
  • 31 country guides for EU/EFTA (European Free Trade Association) states, clarifying what British citizens living there need to do to get ready for Brexit.
  • Temporary Tariff Regime to come into force on 1 November.
  • Have launched £100 million Public Information Campaign, including the following guides:
    1. For Businesses and the Self-Employed
    2. For Visiting the EU after Brexit
    3. For UK Nationals Living in the European Union
    4. For EU Citizens Living in the United Kingdom

Banks’ Support to SMEs Through Brexit

The newly established Business Finance Council has announced that banks will provide comprehensive support to small to medium sized enterprises throughout the entirety of the Brexit process.  The details are given in their recently published SME Finance Charter.  Its primary focus is 5 pledges to SMEs:

  1. Readiness to lend to SMEs.
  2. Providing resources to SMEs to help enable the Brexit transition.
  3. Providing accessible information to SMEs on finance and the management of accounts.
  4. Treating all customers fairly, with an explanation of how they will arbitrate any disputes.
  5. Working with the government owned British Business Bank to help secure a loan or overdraft and provide other relevant financial guidance.

These arrangements, though they may be subject to modification during the final Brexit negotiations with the European Union, are unlikely to alter substantially, and should provide authoritative guidance to both citizens and businesses.