IPPR finds failure to align testing standards has forced companies to abandon exporting to EU and is costing costing 0.18% of national income.
The thinktank estimated that the absence of such a deal may have cost UK exporters between £3.7bn and £6.5bn each year in lost revenue since the UK’s post-Brexit trading arrangements came into force in 2021.
2 sentences from our version of the report,
chosen to cover it. Nothing here is written; every line is in the article below.
How
Summarized version
The thinktank estimated that the absence of such a deal may have cost UK exporters between £3.7bn and £6.5bn each year in lost revenue since the UK’s post-Brexit trading arrangements.
The report’s most important sentence, shortened and in plain words. How
Headline check
One of the two things this headline claims is not in the report.
The headline puts “‘losing up to £6.5bn a year in EU trade’” in quotation marks. Nobody says those words anywhere in the report.
Figures, names and quoted words in the headline, looked for in the report itself — not in the summary above. How this is checked
The article, shortened and in plain language
IPPR finds failure to align testing standards has forced companies to abandon exporting to EU and is costing costing 0.18% of national income.
The UK is losing out on annual exports to the EU that could be worth as much as £6.5bn without a deal with Brussels that allows manufacturers to jettison duplicate product testing.
In the latest attempt to calculate the loss of trade with the EU after Brexit, the IPPR thinktank said many companies have given up selling goods to the EU or set up subsidiaries inside the trade bloc after successive governments failed to secure a mutual recognition agreement that would avoid the extra administration costs.
The thinktank estimated that the absence of such a deal may have cost UK exporters between £3.7bn and £6.5bn each year in lost revenue since the UK’s post-Brexit trading arrangements came into force in 2021.
At this week’s Liberal Democrat conference, the party’s leader, Ed Davey, said that should the party take control at Westminster, he would begin talks to rejoin the EU single market and customs union.
Earlier this year, the Starmer administration pitched the creation of a single market for goods between the UK and EU to Brussels, but the proposal was rejected by EU officials.
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