Calls For Northern Ireland Businesses To Get `Brexit Compensation`

A group of MP`s are calling for businesses in Northern Ireland to get adequate funds to compensate them for the cost of trading when Brexit is finally delivered. They say that as it will cost them millions of pounds in trading costs when trading with other firms in Great Britain it is only fair that they should receive some form of compensation to help them carry on trading.

Checks & Controls On Goods Coming In

As businesses are aware they face checks and controls on all goods coming from the rest of the UK, starting in January, and there could even be checks when goods are headed in the opposite direction which will incur even more costs.

Businesses Must Not Face New Upfront Costs

A report by the Northern Ireland affairs select committee is quoted in a Guardian article by Lisa O`Carroll as saying: “We are clear that UK businesses trading across the Irish Sea must not face new upfront or ongoing costs, as these would not be compatible with the government’s commitment to unfettered access and to maintaining Northern Ireland’s integral place in the UK internal market,”

The report also goes on to say that: “We remain to be convinced that the government fully understands that its political approach, apparently informed by limited understanding of how business works, provides neither the clarity nor the detail that Northern Ireland business requires.”

Government`s Approach Risks A Perfect Storm

In the same article Shadow Northern Ireland secretary Louise Haigh is heavily critical of Boris Johnson`s government, saying: “The government’s careless approach risks a ‘perfect storm’ for Northern Ireland with businesses unprepared for major new requirements with their largest trading partner, at a time when they are fighting to stay afloat during the Covid-19 crisis,”

There doesn`t seem to be a great deal of joined up thinking going on, with the Brexit split looming ever closer on the horizon. The Covid-19 crisis has meant that all efforts have been focused on this, to the detriment of most other things, including a Brexit deal and all that entails, which is more critical for Northern Ireland than any other part of the UK. Let us hope that help is at hand for businesses here in Northern Ireland, as they have had enough to contend with over the last few months.

As ever we are here to help businesses with all their accountancy needs and the smooth running of their business. If you need any help from a professional, expert accountancy firm get in touch with WHR Accountants on 028 3752 2909.