UK Firms Told ‘Set Up in EU to Avoid Trade Disruption’

Date: 24 January 2021 - 21:26

News ID: ۸۶۸۷۱

LONDON (Dispatches) - UK firms that export to the EU say they are being encouraged by the government to set up subsidiaries in the bloc to avoid disruption under new trade rules.
Firms have been hit by extra charges, taxes and paperwork, leading some to stop exporting to the EU altogether.
But several say they have been told that setting up hubs in Europe would minimize the disruption, even if it means moving investment out of the UK.
The Department for International Trade said it was "not government policy”.
The Cheshire Cheese Company said it had been advised by an official to set up in the EU after it was forced to stop its exports to the bloc due to trade rules that came in on 1 January.