Customs delays of 30 minutes ‘will bankrupt 1 in 10 firm’

Guardian reports that delays of only half an hour at UK ports and the Irish border would risk one in 10 British firms going bankrupt, according to a report laying bare the severe risk to the economy from no-deal Brexit.

According to the Chartered Institute of Procurement and Supply (CIPS), failure to reach a deal with Brussels before March could trigger massive queues of trucks at British borders from a vast increase in paperwork and checks to clear customs.

From a survey of more than 1,300 UK and EU-based supply chain managers, the personnel responsible for navigating customs controls for their companies, a tenth at UK firms said it would risk bankruptcy if goods were delayed by between 10 and 30 minutes at the border.

Source: The Guardian