Boris Johnson’s sell-out Brexit deal would hit British businesses with up to £11.2 billion in administrative costs for new customs declarations. This is equivalent to the financial cost needed to maintain over 400,000 jobs in the UK.*
HMRC estimate that after Johnson’s sell-out Brexit, customs declarations will rise from 55 million at current levels, up to 255 million.
Based on the government’s own impact assessment for the Johnson Brexit plan, the financial cost to traders could be as high as £56 per customs declaration, adding up to a potential bill of £11.2 billion a year.
This is on top of further government estimates that Johnson’s sell-out Brexit deal would introduce extra barriers to trade that would cost the country up to 6.7 per cent of GDP over 15 years, a cost of around £2,250 per person each year.
*Annual cost to business in employee terms: