UK car industry warns next PM no-deal Brexit is not an option
LONDON - Britain’s car industry warned the next prime minister on Tuesday against a “seismic” no-deal Brexit in October, which it said could add billions of pounds in tariffs and cause border disruption, crippling the sector.
Boris Johnson, the frontrunner to succeed Theresa May, and his leadership rival Jeremy Hunt, have said they are prepared to take Britain out of the EU without a deal on Oct. 31, although it is not their preferred option. “Leaving the EU without a deal would trigger the most seismic shift in trading conditions ever experienced by automotive, with billions of pounds of tariffs threatening to impact consumer choice and affordability,” it said.
Britain’s car sector, rebuilt by foreign manufacturers since the 1980s, had been a runaway success story in recent years but since 2017 sales, investment and production have all slumped, blamed on a collapse in demand for diesel vehicles and Brexit uncertainty.
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