Is your business ready for no deal? If not, you’re running out of time

2 Jul 2019 11:32 AM

This is the message from Welsh Ministers today, as they publish important advice for businesses.

The UK is due to leave the EU on 31 October – with or without a deal – and Welsh businesses need to be prepared.

Counsel General and Brexit Minister Jeremy Miles said:

We are facing the real and ongoing threat of a disorganised Brexit. As a responsible government, safeguarding the interests of the people of Wales is our absolute priority. 

We have identified 5 simple, low-cost actions to help Welsh businesses prepare for a no deal Brexit – you can find them on Welsh Government’s Preparing Wales website.

We can’t fully counteract the effects of a lurch into trading under WTO rules in the event of a no deal Brexit. Tough tariffs, delays, and blockages at ports are inevitable if we leave the EU without a deal, but we are doing all we can to prepare for the future and mitigate against such disastrous consequences, where it is within our power.

We have to prepare for all outcomes and we are doing so. But with the current parliamentary impasse, the lack of any consensus about a way forward, and the prospect of a hard Brexiteer leading the Conservative Party and the country, the threat of no deal remains very real.

The Economy Minister Ken Skates said:

There is no question that leaving the EU without a deal will have massive implications for business and trade in Wales and the rest of the UK.

The UK government’s own figures show the UK economy would be between 6.3% and 9% smaller in the long term in a no deal scenario. Alarmingly, in Wales, the economy will be 8.1% smaller.

Against this backdrop the Welsh Government is doing everything in its power – working with businesses and organisations across Wales – to prepare for this worst case outcome and protect jobs and growth.

I encourage all businesses and organisations across Wales to make preparations urgently – October 31 is fast approaching.

The Welsh Government has made it clear that faced with a choice between a no deal Brexit or remaining in the EU, it will campaign vigorously to remain. Given the increased threat of a no deal Brexit, it is pressing for a referendum with remain on the ballot to achieve that goal and protect Wales’ interests.

Preparing Wales to leave the EU