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Businesses warn of price rises as Sajid Javid vows no EU alignment post-Brexit

Javid urged businesses to “adjust” and said that while some will benefit others will not.

BUSINESSES HAVE WARNED of price rises after British Chancellor Sajid Javid vowed that there will be no alignment with EU regulations after Brexit.

The Treasury would not lend support to manufacturers that favour EU rules as the sector has had three years to prepare for Britain’s transition, Javid said in an interview with the Financial Times.

Javid urged businesses to “adjust” and said that while some will benefit others will not.

He added: “There will not be alignment, we will not be a ruletaker, we will not be in the single market and we will not be in the customs union — and we will do this by the end of the year.

“We’re … talking about companies that have known since 2016 that we are leaving the EU.

“Admittedly they didn’t know the exact terms.”

But the Food and Drink Federation (FDF) warned that no regulatory alignment with the EU after Brexit could lead to price rises.

Its chief operating officer Tim Rycroft added: “Food and drink manufacturers will be deeply concerned by the Chancellor’s suggestion that there will not be regulatory alignment with the EU post-Brexit.

This represents the death knell for frictionless trade.

“It will mean businesses will have to adjust to costly new checks, processes and procedures, that will act as a barrier to frictionless trade with the EU and may well result in price rises.”

The Confederation of British Industry (CBI) said alignment supports jobs and competitiveness for many firms.

Its director general Dame Carolyn Fairbairn said: “Business welcomes the Chancellor’s ambitious vision for the economy and recognises there are areas where the UK can benefit from its future right to diverge from EU regulation.

However we urge government not to treat this right as an obligation to diverge.

“For some firms, divergence brings value, but for many others, alignment supports jobs and competitiveness – particularly in some of the most deprived regions of the UK.”

Javid admitted that some businesses may not benefit from Brexit, but added that the UK economy would ultimately continue to thrive in the long-term.

“Once we’ve got this agreement in place with our European friends, we will continue to be one of the most successful economies on Earth,” he said.

Javid will have the opportunity to sell his vision for Britain’s economy post-Brexit when he travels to Davos next week for the World Economic Forum.

The Chancellor also hinted that there might be tax rises in the March Budget or autumn, telling the Financial Times that he was determined to take the “hard decisions you need to sometimes, especially at the start of a new government”.

But when asked specifically about taxation he said: “You’ll have to wait for the Budget.”

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38 Comments
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    Oct 12th 2023, 7:26 AM

    Amazing how the US sends it’s warships around the world it’s called a show of strength. Yet when others do the same it’s an act of aggression. There up to something.

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    Mute Fred North
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    Oct 12th 2023, 8:15 AM

    @: *They’re

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    Mute Squarepeg 01
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    Oct 12th 2023, 9:20 AM

    Well if I were an Israeli or South Korean, I’d feel better knowling there was a US carrier group anchored off my coast.

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    Mute
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    Oct 12th 2023, 12:22 PM

    Gunboat diplomacy.

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    Mute Dave Barrett
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    Oct 12th 2023, 7:45 AM

    The world is going into melt down. Conflict everywhere.

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    Mute Eamon
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    Oct 12th 2023, 7:36 AM

    That’s it, poke the bear.

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    Mute
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    Oct 12th 2023, 9:00 AM

    I’ve done extensive research and can’t seem to find anywhere, the exact date and time that the treaty was signed that the USA were assigned leaders of the world. They must have just assumed it.

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    Mute Zionist Shill
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    Oct 12th 2023, 9:05 AM

    @: You obviously didn’t get our memo.

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    Mute Squarepeg 01
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    Oct 12th 2023, 9:11 AM

    Who else is going to do it? Chibna? Rhw UN?

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    Mute Jack Moss
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    Oct 12th 2023, 1:41 PM

    @: if Ireland was invaded tomorrow you be all wondering when the yanks where landing in Shannon and coming to your rescue . Liberating the Irish people GOOD. Liberating the Afghan people bad . American soldiers dying for Ireland GOOD . American soldiers dying for Afghan people BAD .

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    Mute Sean
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    Oct 12th 2023, 3:00 PM

    @Jack Moss: Oh yes. They liberated those Afghani real good! And those poppy fields got liberated too.. Thank God for our boys in the US and British army. Tally ho!

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    Mute Jack Moss
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    Oct 12th 2023, 3:13 PM

    @Sean: Actually it was 40 countries that made up ISAF . There is no guaranteed any military operation is going to work . If you are scared of failure then you will never achieve anything . Thank god the rest of the world didn’t think like the Irish do otherwise the Nazis would have won WW2 . South korea would be an extension of N Korea . Millions would have died in the Balkans from ethnic cleansing . The civil war in Sierra Leon would stil be happening .

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    Mute mainmsam
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    Oct 12th 2023, 3:23 PM

    @Jack Moss: you’d think after 20 years & how many innocent civilians that had to die it might have worked. Back to square one though

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    Mute Diarmuid Hunt
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    Oct 12th 2023, 7:39 PM

    @Jack Moss: Your cognitive dissonance is showing.

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    Mute
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    Oct 12th 2023, 7:27 AM

    Cant everyone just relax

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    Mute Tomasso San Roque
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    Oct 12th 2023, 7:37 AM

    @: we’ll they could, but there’s weapons to be sold and wealthy donees to be satisfied.

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    Mute Dave Harris
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    Oct 12th 2023, 8:48 AM

    @Tomasso San Roque: well ?

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    Mute Dave Harris
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    Oct 12th 2023, 8:49 AM

    @Dave Harris: we’ll

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    Mute Jack Moss
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    Oct 12th 2023, 1:44 PM

    @Tomasso San Roque: actually weapons and munitions have a shelve life then need replaced . They are normally used for training purposes at the end of their live . You don’t need wars to sell munitions and weapons .

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    Mute mainmsam
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    Oct 12th 2023, 8:40 AM

    This coming from a sitting US President who said that “climate change” is a bigger threat to the world than nuclear war!

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    Mute Dave Harris
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    Oct 12th 2023, 8:54 AM

    @mainmsam: it is ! A nuclear war might or might not kick off – it’s not definite. Climate change is actually happening.

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    Mute Squarepeg 01
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    Oct 12th 2023, 9:03 AM

    @Dave Harris: what flavours does Koolaid come in these days?

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    Mute mainmsam
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    Oct 12th 2023, 9:30 AM

    @Dave Harris: good man Dave

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    Oct 12th 2023, 12:26 PM

    @mainmsam: to be fair, he’s changing that. Nuclear war has become a greater threat in the last 3 years.

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    Mute
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    Oct 12th 2023, 7:55 AM

    Armageddon is coming, repent

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    Mute John Sheahan
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    Oct 12th 2023, 2:36 PM

    @: we’ll at least we will finally have a World Cup in our hands before it’s lights out.

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    Mute F2yxfluD
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    Oct 12th 2023, 7:54 AM

    Stop winding the guy up

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    Mute Caoimín Ó Muircheartaigh
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    Oct 12th 2023, 10:10 AM

    According to the Journal Russia has exhausted its ammunition. No evidence of this claim while Russia is chasing Nato officers/UAF out of bunkers Then we’ve a quote from Trump blaming Biden for handling the crisis in Israel/Palestine and a counter-response from a nobody working for Biden.
    Russia lost Moskva to a missile. The Ronald Reagan is made of 70k tonnes of steel. They all sink if you hit the spot. The Journal makes for tabloid reading with its opinions, so long as you get the facts from somewhere else, but that won’t be in the Western mainstream media.

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    Mute Tom Newell
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    Oct 12th 2023, 10:04 AM

    Just what the world doesnt need right now….

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    Mute Squarepeg 01
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    Oct 12th 2023, 11:06 AM

    @Tom Newell: it’s exactly what the world needs. When your neighbourhood is rioting, you need more police, not less.

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    Mute James Brohan
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    Oct 12th 2023, 10:26 AM

    These aircraft carriers are sitting ducks even for NK’s limited military.

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    Mute Squarepeg 01
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    Oct 12th 2023, 11:49 AM

    @James Brohan: let’s see if the North Koreans would like to test that theory.

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    Mute honey badger
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    Oct 12th 2023, 8:52 AM

    I see the little rata Putin is creeping out of his nest in Moscow. Be a nice change of scene from his bugout bunker in St.Peterburg.

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    Oct 12th 2023, 9:02 AM

    @honey badger: You should travel over there and confront him, let us know how you get on.

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    Oct 12th 2023, 9:03 AM

    @honey badger: the likely hood of you leaving your bugout bunker is increasing daily with the fact it’s day 5 since the last article about the Ukraine war. Amazing how quickly the world moved on isn’t it?

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    Mute honey badger
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    Oct 12th 2023, 9:13 AM

    @: lol ffs.

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    Oct 12th 2023, 9:14 AM

    @honey badger: when are you going over to escort Russia off Ukraine’s premises?

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    Mute honey badger
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    Oct 12th 2023, 9:15 AM

    @Is it 5 days since yesterday already?
    Silly.

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    Oct 12th 2023, 9:30 AM

    @honey badger: No article on the Ukraine war yesterday. The article was about how they may have found an informer who gave up information. Nothing about the actual war or the daily updates of Russia killing people, or Zelensky out with his begging bowl in 5 days. Must be terrible for you not having anywhere “show your support” to Ukraine by insulting people.

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    Mute honey badger
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    Oct 12th 2023, 9:42 AM

    @: You’re right, the article about identifying traitors who helped Russia murder over 50 ukrainian civilians has absolutely nothing to do with Russias invasion of Ukraine.
    Clown, lol.

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    Oct 12th 2023, 12:23 PM

    @honey badger: There’s the insults again. I’m sure Zelensky feels the support when you type them here.

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    Mute Dominic Leleu
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    Oct 12th 2023, 7:39 AM

    Show off

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    Mute Luka Roche
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    Oct 12th 2023, 9:57 AM

    I think WW3 is brewing in the background as the decade of 2020 to 2029 has brought a wars with Russia/Ukraine, Israel/Palestine

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    Mute honey badger
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    Oct 12th 2023, 7:48 AM

    “negative ghost Rider, the pattern is full”

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    Mute Ham Hat
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    Oct 12th 2023, 4:29 PM

    Why the Comment section is open?

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    Mute K H
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    Oct 13th 2023, 2:37 AM

    It’s kicking off everywhere..Ukraine , Syria , Yemen, Palestine/Israel , The Korea’s, China / Taiwan …. the lobbyists on the hill and the weapons traders and manufacturers must think they’ve hit the jackpot .. enjoy the champagne and fine dining, while the rest of us watch the world go up in flames on our 4K Hi definition surround sound 55inch TV’s… humanity, destined to destroy itself.. but nevermind, just keep shopping. Oh dear

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