The latest on EU Exit
After a period of protracted negotiation, the British government has agreed a trade deal with the European Union. This means that, when the transition period ends at 11pm on 31 December 2020, the country will complete its departure from the EU while avoiding the prospect of a no-deal Brexit.
This is a positive outcome. As LeasePlan and the wider leasing industry have long argued, a no-deal Brexit would have been bad for fleets and motorists – not least because it would have resulted in import tariffs and delivery delays for new vehicles. There will now be no tariffs to be passed on to consumers in the form of higher list prices.
However, it should be emphasised that not all of the challenges have been overcome. The up-to-the-wire nature of these negotiations means that the economy will now face a period of adjustment, away from planning for the worst and towards accommodating the deal as it is.
And we all still need to sift through that deal – all 1,246 pages of it – to figure out what it really contains.