BREAKING NEWS Finally Feeling Like Fall Full Story

UK warns of higher costs if Brexit talks fail

Higher charges on international credit card payments. Extra taxes on parcels from Europe. More red tape for ...

Posted: Aug 23, 2018 7:38 PM
Updated: Aug 23, 2018 7:38 PM

Higher charges on international credit card payments. Extra taxes on parcels from Europe. More red tape for hospitals that import blood or organs for transplant.

These are some of the potential consequences the United Kingdom will face if it crashes out of the European Union without a deal on trade, according to notices published Thursday by the UK government.

"I remain confident a good deal is within our sights, and that remains our top, and overriding, priority," said Brexit secretary Dominic Raab. "But, we must be ready to consider the alternative."

Companies have been asking for guidance from the government since Britain voted to leave the European Union in June 2016.

"Businesses have waited too long for answers to some basic questions around Brexit ... 'no deal' preparations should have happened far earlier," said Adam Marshall, director general of the British Chambers of Commerce.

The 24 documents published by the UK government cover areas including banking, medicine, farm subsidies, organic food production, nuclear power and science research funding. In many cases, the government warned that businesses would face more red tape and higher costs.

UK customs officials have estimated that filing new trade declarations would cost businesses up to £20 billion ($26 billion) per year.

The British pound took a hit after the documents were published, falling 0.75% against the dollar to $1.28. Around 50 more notices will be published before the end of September.

Changes to bank accounts and pensions

The scope of the documents show that almost every aspect of life and business in the United Kingdom would be impacted by a messy Brexit.

The notices warn that people living outside the United Kingdom may be unable to access their bank accounts in the country. British retirees living in Europe may also lose access to their UK pensions.

Businesses might need to buy new software or hire customs experts to manage new custom policies, and cigarette manufacturers will need to change their packaging because the current health warning labels are copyrighted by the European Union.

Stockpiling medicines

The government also advised pharmaceutical companies to stockpile an additional six weeks supply of medicine in the United Kingdom to ensure there is no disruption after Brexit.

The European Union published its own guidance on the potential consequences earlier this year.

The slow pace of Brexit negotiations has heightened fears in recent months that Britain may leave the European Union in March without a transition deal to keep it temporarily in the bloc's single market and customs union.

Without a deal, hundreds of agreements governing the way businesses operate and trade will be void. The UK government said Thursday that companies exporting goods to the European Union would face steep new tariffs.

Even if no deal is struck, the UK government said it would continue to follow European Union rules in most areas in hopes of achieving a smooth transition out of the bloc.

But analysts warn that crashing out of the European Union would have dire consequences for the United Kingdom, which would be treated by the European Union as a third country.

The British government said it would continue to accept medicines tested in the European Union without additional checks, for example. But it has no say over what would happen to medicines produced in the United Kingdom and exported to the European Union.

Raab said the UK government has 7,000 people working on Brexit, and it plans to recruit another 9,000.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 497790

Reported Deaths: 9917
CountyCasesDeaths
Harrison34102530
DeSoto31839398
Hinds31837622
Jackson24314377
Rankin21881388
Lee15427234
Madison14525279
Jones13772241
Forrest13412250
Lauderdale11937314
Lowndes10934185
Lamar10470135
Pearl River9431237
Lafayette8454138
Hancock7697126
Washington7365156
Oktibbeha7111129
Monroe6727174
Warren6642176
Pontotoc6609101
Neshoba6606205
Panola6460131
Marshall6386132
Bolivar6266145
Union596094
Pike5784152
Alcorn5633101
Lincoln5417134
George491879
Scott470998
Tippah465381
Prentiss464181
Leflore4627143
Itawamba4596104
Adams4570119
Tate4546109
Copiah445191
Simpson4421116
Wayne438572
Yazoo438586
Covington427394
Marion4216107
Sunflower4215104
Coahoma4115104
Leake407787
Newton380879
Grenada3692108
Stone358464
Tishomingo356391
Attala330289
Jasper328265
Winston313191
Clay306375
Chickasaw296767
Clarke290694
Calhoun277945
Holmes266987
Smith262550
Yalobusha232647
Tallahatchie225251
Walthall217763
Greene215548
Lawrence211140
Perry204755
Amite203954
Webster201645
Noxubee185340
Montgomery179056
Jefferson Davis170642
Carroll167438
Tunica158639
Benton147438
Kemper141241
Choctaw133026
Claiborne131237
Humphreys129038
Franklin119128
Quitman106227
Wilkinson104539
Jefferson94234
Sharkey64020
Issaquena1937
Unassigned00

Alabama Coronavirus Cases

Cases: 813481

Reported Deaths: 15179
CountyCasesDeaths
Jefferson1139971910
Mobile722271323
Madison51970686
Shelby37279341
Baldwin37069540
Tuscaloosa34934599
Montgomery33953725
Lee23142240
Calhoun22142470
Morgan20639372
Etowah19758496
Marshall18245300
Houston17302405
St. Clair15912337
Cullman15306290
Limestone15202198
Elmore15075284
Lauderdale14143294
Talladega13715272
DeKalb12569259
Walker11085366
Blount10094174
Autauga9893146
Jackson9789180
Coffee9182189
Dale8859181
Colbert8789200
Tallapoosa7044195
Escambia6732127
Covington6682179
Chilton6587160
Russell625958
Franklin5930105
Chambers5559142
Marion4955126
Dallas4882199
Clarke472782
Pike4719105
Geneva4564126
Winston4473101
Lawrence4264117
Bibb421686
Barbour355475
Marengo334089
Monroe330262
Randolph327063
Butler324794
Pickens313882
Henry310965
Hale309187
Cherokee299957
Fayette290679
Washington250951
Cleburne246958
Crenshaw243575
Clay240367
Macon230562
Lamar215846
Conecuh185652
Coosa178538
Lowndes173761
Wilcox167438
Bullock151744
Perry138040
Sumter131038
Greene125544
Choctaw86927
Out of AL00
Unassigned00
Tupelo
Clear
44° wxIcon
Hi: 72° Lo: 44°
Feels Like: 41°
Columbus
Clear
44° wxIcon
Hi: 72° Lo: 46°
Feels Like: 44°
Oxford
Clear
39° wxIcon
Hi: 70° Lo: 41°
Feels Like: 39°
Starkville
Clear
43° wxIcon
Hi: 72° Lo: 45°
Feels Like: 43°
A cold front passing through our area overnight will bring into our area some of the coolest temperatures of the season so far. We will see most of the highs this weekend only in the upper 60s to lower 70s. While overnight lows will drop off down into the 40s Saturday night.
WTVA Radar
WTVA Temperatures
WTVA Severe Weather