Sign in Subscribe
Prime ministers

Brexit's Bitter Taste: Britain's New Reality

Strategic Insights

— 1 min read

A week after cutting ties with the EU, Britain is reeling from the economic and social fallout of Brexit. Trade agreements, visa requirements, and customs declarations have imposed a new reality on businesses, causing widespread disruptions. From seafood exporters and grocery executives to musicians like Sir Elton John, many are outraged at the border hassles and restrictions. As commerce picks up after the pandemic, the situation is expected to worsen.

Key Takeaways:

  • Dozens of angry seafood traders held a demonstration outside Parliament to vent their fury over long border delays and suffocating paperwork that has crippled their industry.
  • Gary Hodgson, who runs Venture Seafood, estimated he has lost £200,000 ($350,000) in sales due to the border issues, with some trucks being held up for hours and others turned back because of improper documentation.
  • Sir Elton John was among more than 100 musicians who signed an open letter to the government criticizing post-Brexit visa rules, which could have devastating consequences for touring rock bands, orchestras, and ballet companies.
  • Grocery store chief executives from major chains, including Tesco, Sainsbury's, and Marks & Spencer, joined the outcry over Brexit, demanding the government's urgent intervention to prevent significant disruption to food supplies to Northern Ireland.
  • The Northern Ireland Protocol, a Brexit-related deal, has resulted in products coming into Northern Ireland from the rest of Britain being checked to ensure they comply with EU standards, leading to long delays and empty store shelves.
  • Prime Minister Boris Johnson described the issues as "teething problems," but his government has committed to working with the EU to sort out the new visa regulations for artists and has announced a £23-million ($39.6-million) package to help the seafood industry adjust to the new requirements.

Statistics:

  • £200,000 ($350,000): the estimated financial loss of Gary Hodgson's seafood business due to the border issues (The Globe and Mail, 2021)
  • £23 million ($39.6 million): the amount of the package announced by Prime Minister Boris Johnson to help the seafood industry adjust to the new requirements (The Globe and Mail, 2021)

Sources:

  • The Globe and Mail (January 2021)

Read more