Even those sectors of the economy that have relatively calmly weathered the peak of the coronavirus pandemic are anxiously awaiting the final Brexit verdict. Its consequences will be tragic, regardless of whether agreements are reached with the EU or not.
Writes about this edition “The Guardian”, referring to the report of the London School of Economics, which will be officially released only on Wednesday, July 29.
The document indicates that the coronavirus and Brexit will begin to manifest themselves in the fall. Then the new policy of the Chancellor of the British Treasury Rishi Sunak, aimed at supporting the unemployed, in conjunction with the new business realities will begin to give side effects.
The pandemic has hit the hospitality, catering, air travel and entertainment industries. However, industries such as professional accounting, legal and publishing services were less affected as they could work with staff remotely.
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But Brexit will create new barriers to trade with the European Union. Problems will arise for pharmaceutical companies seeking regulatory approval, banks that need to transfer data from European servers, car manufacturers and apparel importers who face customs bureaucracy.