– The free movement of goods will end: Customs checks and controls will apply to all UK exports entering the EU. UK agri-food consignments will have to have health certificates and undergo sanitary and phytosanitary controls at Member States’ border inspection posts. This will cost UK businesses time and money.
– Zero tariffs or quotas on goods traded, ensuring lower prices for consumers – provided agreed rules of origin are met. Traders can self-certify the origin of goods
sold and enjoy ‘full cumulation’ (i.e. processing activities also count towards origin, not just materials used), making it easier to comply with requirements and obtain zero-tariff access.
– The free movement of services will end: UK service providers will no longer benefit from the country-of-origin principle. They will have to comply with the – varying – rules of each Member State, or relocate to the EU if they want to continue operating as they do today. There will be no more mutual recognition of professional qualifications. UK financial services firms will lose their financial services passports.
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