Customs delays of 30 minutes 'will bankrupt 1 in 10 firms', say bosses

Customs delays of 30 minutes 'will bankrupt 1 in 10 firms', say bosses

Supply chain chiefs at 1,300 surveyed firms say firms are already stockpiling parts amid fear of no-deal Brexit

Delays of only half an hour at UK ports and the Irish border would risk one in 10 British firms going bankrupt, according to a report laying bare the severe risk to the economy from no-deal Brexit.

According to the Chartered Institute of Procurement and Supply (CIPS), failure to reach a deal with Brussels before March could trigger massive queues of trucks at British borders from a vast increase in paperwork and checks to clear customs.

Related: Next warns of Brexit port delays and higher prices

Related: Rotterdam prepared for worst when Britain crashes out of EU

Related: A no-deal Brexit survival guide: what food to stockpile

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Source: Guardian Transport

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