Prepare for very hard Brexit

“German companies operating in Britain or Northern Ireland need to make provisions for the possibility of a very hard Brexit. Failing to do so would be naive. As business leaders we are, of course, preparing for all possible scenarios.  

Together with our member associations, companies and umbrella organisations including the BDA (Confederation of German Employers’ Associations), the DIHK (Association of German Chambers of Industry and Commerce), the BGA (Federation of German Wholesale, Foreign Trade and Services), the Association of German Banks and the German Insurance Association, we set up a joint Brexit Taskforce early this summer. The Taskforce is divided into ten project groups, and has a total of 190 members. Its remit is to identify potential and acute risks associated with the UK’s exit from the EU and to develop constructive solution proposals. There is no guarantee that even a single transitional regulation will be in place on the date of withdrawal, let alone a final, equitable pact regulating future relations between the EU and the UK.  

The joint Taskforce is cooperating closely with the federal government and the European Commission’s Article 50 Taskforce that is in charge of negotiations for the European side. The work of the Taskforce will progress in line with the negotiations. Should it become possible after all to agree on the exit conditions in the near future and the focus shifts to developing transitional regulations, then the Taskforce will intensively prepare its input on these.”