Chancellor “confident for the future” of trade despite new border checks

Published by Scott Challinor on February 13th 2020, 7:07am

Chancellor Sajid Javid is confident that UK trade will be "better off outside of the EU" despite the fact that border checks will enter force at the end of the year.

Although frictionless trade with the bloc will end when the Brexit transition period lapses after December 31, Javid reassured that supply chains “would be protected”.

He told the BBC: "Of course, we are not going to have completely frictionless trade because we have left the customs union and single market.

"That is a deliberate decision, because we have a better future as an independent sovereign nation trading with European friends, but also trading more so with the rest of the world."

Javid also pledged “complete equivalence” for the automotive sector and other areas of UK industry which rely on frictionless trade with the continent.

He explained: "We are working closely with the car sector. We’ve been clear there will be some changes but that can be done in a way that the sector... continues to thrive."

The chancellor is also optimistic that the EU will change its stance on "permanent equivalence" for the UK finance sector and granting it continued access to the bloc.

Chief EU negotiator Michel Barnier had previously rebuffed the idea, but after "private discussions" with EU officials, Javid said he was "confident" that the outlook would alter.

Javid said: "Looking back at the withdrawal agreement, there were things that the EU would reject... only to change their mind later on.”

Share this article


Leaders of Great Britain

About Leaders of Great Britain

Leaders of Great Britain hosts a series of engaging events featuring prominent figures from the worlds of politics, sports, business, and entertainment. Our goal is for every attendee to leave these gatherings with profound leadership insights that transcend boundaries. Learn More.


Related Features


Authored By

Scott Challinor
Business Editor
February 13th 2020, 7:07am

Follow Us

Follow @LeadersGBNI on Twitter for more live updates

Share this article


Popular Features

FEATURES | Published October 7th 2024, 4:04 pm

Margaret Ollivier: Ensuring Respect and Inclusivity at Expect Ltd

FEATURES | Published September 16th 2024, 11:11 am

Andrew Martin: Steering the Course of Planning and Development

FEATURES | Published July 26th 2024, 7:07 am

Paul Bowley: Transforming Lives with Abbeycare Group

© Copyright 2024, Leaders of Great Britain.