No-deal Brexit papers

Brexit flags

Brexit flags

The list of "technical notices" released by the British government on Thursday aims to prepare businesses and the public for a no-deal Brexit.

Pro-Brexit Tories reacted furiously after Philip Hammond pointed to disputed provisional analysis, released earlier this year, which claimed GDP could fall and borrowing could be around £80 billion a year higher by 2033/34 under a scenario in which Britain resorted to World Trade Organisation terms due to no agreement with the EU. Prime Minister Theresa May's plan for a "business-friendly" deal has failed to impress negotiators in Brussels and has been heavily criticized at home.

What do the papers say?

Numerous "challenges" presented by a no deal would also affect the EU, Mr Raab will say, adding: "For our part, if the negotiations fail, we will continue to behave as responsible European neighbours, partners and allies".

"For UK-based customers who access banking, insurance, investment funds and other financial services with EEA firms now passporting into the UK, temporary permissions will enable these firms to continue to provide these services to UK customers for up to three years after exit - allowing firms time to apply for authorisation to continue operating in the UK", the documents said.

However, the government's guidance makes it clear that companies trading with Europe would face new paperwork to cover customs and safety declarations in the event of no deal, paperwork that is now not required.

Britain will recognise European Union standards for medicines - so drugs from the bloc will not need to be re-tested in the United Kingdom - and will continue to fund British research programmes and academic exchanges that now get money from the EU.

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Mr. Raab said the government would initially seek to replicate some European Union rules and accept EU-approved products such as drugs and medical devices. This means that drugs from the bloc won't need to be re-tested in the UK. But emergency plans do not absolve politicians of the responsibility to do everything to ensure that an emergency does not arise.

The first 25 of more than 70 papers cover everything from financial services to nuclear materials.

Labour MP Hilary Benn, who chairs the Commons Brexit committee, said that it proved no deal was far from being better than a bad deal. "Companies must in fact now arm themselves protectively for a hard Brexit; we hope, however, that these preprations will never need to be put into practice".

"I remain confident a good deal is within our sights, and that remains our top, and overriding, priority", Raab said at a speech in London as the government published the first of a series of "technical notices" to advise different sectors of the economy on how to handle negotiations collapsing.

A European Commission spokesman said: "We are working constructively to reach a deal". It is also clear that the withdrawal of the United Kingdom is going to lead to disruptions regardless, with a deal or without a deal. The government said it would "take full account of the unique circumstances of Northern Ireland" in its no-deal planning. The papers will be closely scrutinized by industry to see just how disruptive a no deal Brexit could prove.

"A no-deal Brexit has never been viable and would represent a complete failure of the Government's negotiating strategy".

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