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Retail industry expresses concern over Brexit deal

The retail industry has expressed concern that the proposed Brexit deal may not pass through Parliament, extending uncertainty for business. In case the deal is not passed, the UK would immediately leave the single market and customs union, and revert to the World Trade Organization rules, under which tariffs would be levied on imported goods from the EU.

Despite Prime Minister Theresa May announcing a draft agreement had been backed by the cabinet, the government has been in turmoil since. Seven politicians have resigned in protest at the proposal, including Brexit secretary Dominic Raab and pensions secretary Esther McVey. Several MPs are calling for a vote of no confidence in the prime minister. The fallout is prompting speculation that the current draft will not pass the vote, which is expected to take place on 7 December, and increase the risk of a no-deal Brexit.

 

 
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