Businesses have faced increased prices, more red tape, and border delays as a result of the United Kingdom’s exit from the European Union, according to a government spending watchdog.
The Public Accounts Committee of Parliament declared that the “only discernable consequence” of Brexit so far has been to increase business responsibilities, a day after Prime Minister Boris Johnson created a “Brexit opportunities” minister.
On December 31, 2020, the United Kingdom exited the European Union’s huge single market for goods and services. The majority of commerce is still tariff-free, but Brexit has added a slew of additional customs checks and other roadblocks to previously seamless trade.
Brexit supporters claim that leaving the European Union, which Britain joined in 1973, will allow the UK to cut red tape, boost productivity, and streamline the economy.
“Yet the only discernible result so far has been additional expenses, paperwork, and border delays,” said Meg Hillier, a Labour Party legislator who chairs the committee, which includes members from both the government and opposition parties.
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