UK prime minister Boris Johnson is hoping to ‘unleash the benefits of Brexit’ with a new plan designed to cut red tape for businesses.
The Brexit Freedoms Bill will look to end the specific status of EU law within the UK’s legal framework, ensuring that future laws can more easily be amended to replace carried-over EU regulations.
Numerous reviews of inherited EU laws have been undertaken to see where changes can be made to help businesses invest and create jobs.
Some key areas that could see change include:
- Changes to GDPR and data protection rules
- Updates to laws surrounding genetic modification, clinic trials, transportation and AI
- Slashing red tape for businesses
These changes would look to build on alterations already made by the government out of alignment with EU rules, including the simplification of alcohol duties, scrapping VAT on tampons and creating new subsidy schemes.
Help for businesses
Any reduction in the amount of paperwork and required regulations to follow will be a big help for UK businesses who, since the start of the year, have seen the realities of ‘Brexit for real’ take hold as the transition period came to an end.
Importing and exporting firms, in particular, have seen a massive amount of upheaval with new requirements around the HS code, customs declarations, rules of origin, pre-notification of imports, VAT and Incoterms (just to name a few!).
At Go Exporting, we’ve created a free guide on the key changes since Brexit for UK businesses to help guide you through the new trading relationship. You can download your copy right here.