Blog: Daily Brexit Update – 8 October 2020 – Lexology

Government publishes guidance for Northern Ireland exports – BBC

  • The government has published legal guidance for what NI goods will have “unfettered access” to GB at the end of the Brexit transition period on 1 January.
  • The legislation gives a very broad definition of what goods will qualify namely goods having “qualifying Northern Ireland status” and is not subject to any customs supervision, restriction or control.
  • Government have said it will bring forward further legislation aimed at preventing non-qualifying goods using NI as a backdoor into GB.
  • Further proposals, developed with Northern Ireland business, will define qualifying status for the longer-term.

Thousands of UK businesses not prepared for Brexit, MPs told – FT

  • MPs are concerned that tens of thousands of UK businesses are still not prepared for the end of the Brexit transition period, with the latest government polling indicating that around one-third of businesses still believed there would be an extension to the transition period.
  • With growing fears that the Calais-Dover crossing will be plunged into chaos Michael Gove, Cabinet Office minister, also announced plans for 10 proposed sites for inland border controls on EU goods from 2021, to take the strain off congested ports. The sites include Ashford and Ebbsfleet in Kent, North Weald airfield in Essex, Birmingham, Warrington and Holyhead.
  • Logistics experts, said the new border controls and the potential resulting delays could provoke a shift over time to longer, slower, but more reliable crossings. Robert Keen, director-general of the British International Freight Association, added that longer crossings could also give time to complete complex new paperwork, cut road miles to help hit CO2 emissions targets and avoid traffic congestion in south-east England.

BoE warns that full Brexit could be bumpy for investors – Reuters

  • Bank of England have expressed that it could be bumpy for investors but there are few threats to wider financial stability.
  • The BoE’s Financial Policy Committee (“FPC”) said that most risks to stability that could arise from disruption to cross-border business after December have now been mitigated.
  • On average, over two-thirds of clients of UK-based banks have now completed the necessary documentation to enter into derivative trades with the EU entities, the FPC said.
  • However the FPC have predicted that a rush to shift assets and staff to new EU hubs could “amplify market volatility”.

Jessica Mutton

Jessica’s practice focuses on international trade and anti-bribery work, encompassing customs, export control and sanctions matters. Jessica’s trade work includes advising international clients on fast-moving and evolving EU and UN sanctions, notably in respect of Iran and Russia, and on compliance with UK and EU export controls. Her trade experience also includes advising on tariff classification and customs valuations. Jessica’s anti-bribery experience includes assisting with investigations, and advising clients on compliance with anti-bribery laws. Jessica has also taken a lead role in monitoring Brexit-related developments; analysing how they will affect the UK’s trading position generally, and clients’ businesses specifically. She has helped clients begin to conduct risk assessments of how Brexit will impact their businesses, and has assisted them in developing tailored Brexit strategies. Jessica also presents at various seminars, webinars, and conferences on the complexities of Brexit. Jessica advises global clients on complex issues arising from international transactions and works with clients across a number of sectors including pharmaceuticals, defence, finance, aviation, energy, and telecommunications. Jessica has also worked previously in Paris, and is fluent in French.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s