Member Article

Maintain free and frictionless trade with EU, London businesses tell Govt

Minimising customs procedures on trade with the EU and maintaining minimum restrictions on the trade of goods with the continent are two of the core demands from London businesses as the government’s Brexit negotiations continue in earnest.

The demands come as part of a new report, Moving Towards Brexit, which has been put together by the London Chamber of Commerce and Industry almost exactly a year after the UK voted to leave the European Union.

Canvassing LCCI members, the trade body found that London businesses have retained a ‘pragmatic’ and ‘level-headed’ approach to Brexit, but were worried about more trade red tape and the impact leaving the EU might have on access to talent.

Polling more than 500 of the capital’s businesses, the LCCI found that 70% of those surveyed believe that minimising customs procedures on trade with the EU is important while 68% said minimising import/export licensing requirements was important.

Chief Executive, Colin Stanbridge, said: “If customs procedures between the UK and EU end-up being reintroduced, innovative or technological solutions must be considered to prevent queues and costly delays at the points of entry.

“The UK Government, as well as EU counterparts, will need to invest adequately in the infrastructure required to enable that.

“There is broad agreement among the capital’s businesses that Brexit should not distract from addressing London’s pressing policy agenda, notably with regards to progressing infrastructure projects like Crossrail Two.”