The Japan Times - UK MPs' report finds Brexit burdening businesses

EUR -
AED 4.121845
AFN 72.380179
ALL 91.461825
AMD 404.477538
ANG 2.008512
AOA 1030.187345
ARS 1734.544678
AUD 1.620062
AWG 2.022781
AZN 1.894695
BAM 1.961461
BBD 2.260123
BDT 139.37222
BGN 1.961431
BHD 0.423294
BIF 3378.970171
BMD 1.122209
BND 1.436245
BOB 13.33631
BRL 6.187189
BSD 1.122138
BTN 105.321953
BWP 15.418497
BYN 3.359997
BYR 21995.289057
BZD 2.256913
CAD 1.584587
CDF 2570.979996
CHF 0.919599
CLF 0.027658
CLP 1088.531204
CNY 7.488274
CNH 7.484761
COP 3679.65475
CRC 508.266827
CUC 1.122209
CUP 26.931723
CVE 110.677843
CZK 24.335117
DJF 199.438761
DKK 7.475177
DOP 68.062211
DZD 152.66299
EGP 60.468302
ERN 16.833129
ETB 180.896133
FJD 2.526428
FKP 0.840299
GBP 0.834805
GEL 2.912115
GGP 0.840299
GHS 13.113016
GIP 0.840299
GMD 83.043172
GNF 9945.569235
GTQ 8.574708
GYD 235.247863
HKD 8.800399
HNL 30.383836
HRK 7.596241
HTG 147.084477
HUF 362.122693
IDR 20291.776364
ILS 3.544821
IMP 0.840299
INR 105.089058
IQD 1699.023859
IRR 2134761.219536
ISK 137.313761
JEP 0.840299
JMD 178.26446
JOD 0.795636
JPY 177.220871
KES 145.842481
KGS 98.137042
KHR 4584.222231
KMF 496.015853
KPW 1009.987719
KRW 1504.118278
KWD 0.348816
KYD 0.935191
KZT 503.462963
LAK 25255.305476
LBP 100493.782176
LKR 373.115125
LRD 191.108694
LSL 18.583762
LTL 3.31359
LVL 0.678813
LYD 7.215948
MAD 10.94995
MDL 20.227194
MGA 5156.548602
MKD 61.554925
MMK 2356.028074
MNT 4041.259556
MOP 9.063256
MRU 45.168408
MUR 52.833791
MVR 17.28467
MWK 1949.276163
MXN 20.822022
MYR 4.554818
MZN 71.707157
NAD 18.583439
NGN 1511.614981
NIO 41.084377
NOK 10.542578
NPR 168.515325
NZD 1.992268
OMR 0.431497
PAB 1.122239
PEN 3.863199
PGK 5.040964
PHP 70.789038
PKR 310.459367
PLN 4.38572
PYG 7014.242675
QAR 4.088167
RON 5.343396
RSD 117.659066
RUB 92.582187
RWF 1655.257722
SAR 4.219971
SBD 9.032189
SCR 15.623069
SDG 675.019877
SEK 10.993279
SGD 1.435153
SHP 0.840448
SLE 25.754353
SLL 23532.158705
SOS 641.341166
SRD 42.141205
STD 23227.452815
STN 24.997197
SVC 9.819338
SYP 14590.956193
SZL 18.584279
THB 37.498655
TJS 10.301383
TMT 3.92773
TND 3.350359
TOP 2.702009
TRY 56.31176
TTD 7.610965
TWD 36.778701
TZS 2968.239571
UAH 51.121935
UGX 4595.261644
USD 1.122209
UYU 45.250388
UZS 13466.503672
VES 1005.853999
VND 28633.71418
VUV 133.836923
WST 3.12852
XAF 655.957
XAG 0.021049
XAU 0.000271080273
XCD 3.032825
XCG 2.022437
XDR 0.79346
XOF 655.957
XPF 119.331742
YER 265.542618
ZAR 18.387053
ZMK 10101.226587
ZMW 22.807822
ZWL 361.35072
SSP 6447.349269
MXV 2.340764
  • RYCEF

    0.1000

    19.81

    +0.5%

  • VOD

    -0.2500

    16.33

    -1.53%

  • CMSC

    -0.2800

    20.12

    -1.39%

  • RBGPF

    -2.0000

    65

    -3.08%

  • RIO

    -0.2500

    94.16

    -0.27%

  • BTI

    -1.2000

    54.85

    -2.19%

  • NGG

    -0.3000

    74.94

    -0.4%

  • GSK

    -0.3500

    49.35

    -0.71%

  • BCE

    -0.4200

    20.14

    -2.09%

  • CMSD

    -0.3400

    19.93

    -1.71%

  • BP

    -0.9100

    43.52

    -2.09%

  • RELX

    0.1700

    33.24

    +0.51%

  • BCC

    -0.6200

    75.97

    -0.82%

  • AZN

    -1.9400

    164.21

    -1.18%

  • JRI

    0.0000

    10.77

    0%

UK MPs' report finds Brexit burdening businesses
UK MPs' report finds Brexit burdening businesses

UK MPs' report finds Brexit burdening businesses

Britain's trade with the European Union has been dented by Brexit, with businesses facing greater costs, paperwork and border delays since the UK's full withdrawal, a watchdog panel of MPs said Wednesday.

Text size:

A report by the cross-party Public Accounts Committee found that although it was difficult to disentangle the effects of the pandemic from those of Brexit, "it was clear that EU exit has had an impact".

It concluded the "only detectable impact" of the UK withdrawal from the EU's single market and customs union at the start of last year was increased burdens on businesses.

"New border arrangements have added costs to business," the report said, noting the government has "much more work" to do to ease the woes suffered by firms.

The committee's scathing verdict contrasts with the upbeat picture painted by Brexit proponents such as Prime Minister Boris Johnson ahead of the 2016 referendum on EU membership.

The UK narrowly voted to leave after nearly five decades inside the club -- now comprised of 27 countries -- sparking several years of political upheaval.

Since Britain formally departed the bloc in January 2020 and then ended a transition period 11 months later, Johnson has proclaimed Brexit's benefits, touting the ability to rewrite immigration laws and ink independent trade deals.

But in an apparent sign of some of the difficulties adjusting to life outside the bloc, Johnson on Tuesday appointed prominent Eurosceptic MP Jacob Rees-Mogg in a newly-created post of "minister for Brexit opportunities and government efficiency".

It was part of a minor reshuffle of his ministers.

- 'Increased costs' -

This year trucks have faced queues of up to six miles (10 kilometres) on the approach to the English port of Dover -- Europe's busiest for roll-on, roll-off freight -- with lines also reported in northern France.

The delay has been attributed to several factors, including the UK government implementing further customs controls at the start of January.

It prompted a leading UK freight lobby group to urge the British and French governments to hold talks to ease the backups at Channel ports.

In its report, the Public Accounts Committee warned they could worsen once passenger numbers return to normal as expected later this year.

It noted new border arrangements will be implemented in the summer, while all the systems have not yet been tested at pre-pandemic traffic levels.

"One of the great promises of Brexit was freeing British businesses," said committee chair Meg Hillier MP.

"Yet the only detectable impact so far is increased costs, paperwork and border delays."

The British Chambers of Commerce (BCC) said the report reflected the "lived experiences" of more than 1,000 small- and medium-sized firms trading with the EU.

"The risk of outbound delays on good movements could well persist and must be averted in plenty of time before the autumn," said William Bain, its head of the trade policy.

K.Inoue--JT