Retailers will be watching every step over the coming weeks and months as Boris Johnson, the new UK Prime Minister takes over, tackling the very real possibility of a no deal Brexit. Almost everyone can agree that a no deal outcome is not ideal. Johnson is on record as saying the UK will leave the EU on October 31 – regardless of how, or at what cost it will come to the country.
After announcing he had won the Conservative Party leadership election, Boris said: "We know we can do it and the people of this country are trusting in us to do it, and we will do it." He repeated the pledge to "deliver Brexit, unite the country and defeat Jeremy Corbyn". He then added an 'e' to the D.U.D. mantra of his campaign, which he then dubbed a 'dude' strategy. He then stated, "We're going to get Brexit done on October 31."
Retail And No Deal
However, thanks to internetretailing.net, we know his comments come after the entire retail industry has shown its desire to avoid a no deal Brexit. The fact is, a no deal Brexit creates complexity and uncertainty among many areas. At least this is what a IRUK Top 150 retailer by the name of Joules had to say about it. They went on record as viewing a no deal Brexit as worsening the complexity and uncertainty as well as resulting in delays to inbound and outbound movements of goods, especially if the UK withdraws from the EU with no free trade agreement. "This could adversely affect our supply chain and our ability to supply our wholesale customer base."
Christmas Comes Early And Futureproofing
Christmastreeworld.co.uk, an online retailer, says their sales are doubling because Brexit is making many buy early to avoid the Halloween 2019 deadline for the UK's jump from the EU ship. They also said they have futureproofed their business by stockpiling stock for Christmas 2019 in their warehouse.
Industrial Bodies Want A Deal
Similarly to retailers, industrial bodies also demand a clear deal for the forthcoming Brexit. Some advice came from the FTA (Freight Transport Association). They say a no deal Brexit would be the "worst possible outcome" and ask Boris Johnson to consider the impact it would have on supply chains between the UK and the EU.
James Hookham, deputy chief executive of the FTA, "The FTA has worked closely with government over the past three years to develop contingency plans for a no deal Brexit. We remain hugely concerned at the fragility of these plans and the state of readiness of traders, carriers and agencies on both sides of the border to implement them flawlessly as early as 31 October."
Dude, Where's My Brexit?
Even if Brexit has a deal, it will complicate commerce between the UK and Europe, as well as disrupting everything else between the islands and Europe. Pro-remainers don't have any faith at all in Boris Johnson. At any rate, it is very difficult to put much faith in an English Prime Minister who utters the word 'dude' in an official speech to the world.