Home >UKWA highlights £5bn potential Brexit cost
UKWA highlights £5bn potential Brexit cost
30 May 2017
The UKWA’s CEO Peter Ward says additional frontier declarations for shipments around Europe post Brexit could add £5 billion of cost to UK plc.
The United Kingdom Warehousing Association chief exec was speaking at a meeting co-hosted by the Association and BIFA (the British International Freight Association).
Ward suggested that current levels of around 90 million frontier declarations for rest of world trade may escalate to 300 million should frontier declarations be required for shipments to and from Europe.
“There’s a real possibility of another 210 million declarations becoming necessary, bringing additional costs to UK plc in excess of £5bn per year, with other expenses such as duties and taxes on top, depending on the trade agreement that is reached,” he said.
He continued: “The future will be shaped not by boffins and think tanks, but by those of us working at the ‘coal face’ who truly understand the impacts of Brexit on supply chains and crucially, on our export/import industry.
“Our message to UKWA and BIFA members and to the wider logistics community is to engage with your association and seize this unique opportunity to help shape the outcomes of Brexit as well as the future of our industry.”
UKWA and BIFA’s joint event provided an update on issues likely to affect members in the run up to Brexit, including customs and excise changes.
“UKWA released a pre-Brexit positioning statement for HMRC last November, taking advantage of the association’s involvement with the Joint Customs Consultative Committee (JCCC) to present members’ concerns and requirements, and calling for positive action to protect those operating in the import/export markets in the UK as we leave the EU,” said Ward.
He added: “We have maintained an ongoing dialogue with HMRC and all relevant government departments responsible for planning our future trading environment, and are collaborating with like-minded industry organisations such as BIFA to formulate and deliver our case for a successful Brexit for the UK.”