|
|
“This is an extremely conservative estimate,” Andrew Meaney, a partner at Oxera, cautioned in a summary.
“It does not account for the economic costs of the uncertainty involved” or other factors such as extra staff, he wrote, adding that the “full cost is likely to be much higher.”
Since the European Single Market, which guarantees the free movement of goods, capital, services, and labor inside the European Union, was established in 1993, goods leaving the U.K. for the EU and vice versa have not been subject to regular customs checks. [...]