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Brexit Updates – Companies Are Urged to Prepare for a ‘No Deal’ Brexit

29/07/2019

On 23 July, Boris Johnson was elected as Leader of the Conservative Party and therefore became the UK’s new Prime Minister.

In the coming days and weeks, the new Prime Minister will seek meetings with EU Leaders in order to attempt further negotiations on the Withdrawal Agreement.  However, the EU has ruled out making changes to the Withdrawal Agreement.  Therefore, if changes cannot be secured to the Political Declaration and passed by Parliament, then the new Prime Minister has indicated he will start the process for the UK to leave the EU without a deal on 31 October.  The UK Parliament is likely try and stop ‘no deal’ by any means, including a no confidence vote and potential General Election.  However, none of these actions can be guaranteed.

In this climate of uncertainty, CTPA strongly recommends that companies should start or continue to prepare for a ‘no deal’ Brexit on 31 October as it is now more likely than before.  Companies are advised to consult the CTPA Brexit public page for advice on ‘no deal’ contingency planning.  The page explains in detail all of the key topics companies should take into consideration to prepare for a ‘no deal’ Brexit, with reference to key news items and guides, checklists and diagrams.