Alastair Campbell: No-Deal Brexit Shows Project Fear Is Now Project Reality

“The idea that technical notices issued eight weeks before we are supposed to reach agreement is going to reassure anybody I think is fanciful”, he said.

Mrs Morgan said: “The chancellor has confirmed that the government forecasts a disastrous hit to our economy and living standards in the event of a “no-deal” Brexit”.

There was widespread derision among business and political leaders of advice contained in official United Kingdom government papers on trading in the absence of a comprehensive withdrawal agreement with the EU.

The government has maintained throughout the negotiation process that it is preparing for all possible outcomes, including “no deal”.

European Union’s chief Brexit negotiator, Michel Barnier attends a media briefing with Britain’s Secretary of State for Exiting the European Union, Dominic Raab, after a meeting at the EU Commission headquarters in Brussels, Belgium August 21, 2018.

That means expats and former expats with British bank accounts risk having their payments cut off when the United Kingdom becomes a third country in March next year.

Other measures in the document include a public consultation, scheduled for the autumn, on how the UK’s Medicines and Healthcare Products Regulatory Agency (MHRA) will operate in the advent of Brexit.

His speech and the technical papers did little to ease the growing confusion about the government’s Brexit strategy.

Leaving without a deal could increase costs and processing time for transactions in euros.

Brexit Secretary Dominic Raab, speaking on the Today Programme, had also set out to deliver what he called “practical and proportionate” advice in the event that the United Kingdom crashes out of the EU. The documents cover a range of sectors, and provide details about what will happen if the United Kingdom leaves without a deal and how the government will respond.

The government would not demand Brussels to reciprocate the deal, meaning United Kingdom firms would face huge new tariff and non-tariff barriers on goods being exported to Europe which could run many out of business. Without a deal between London and Brussels, the ban on cross-border surcharges would no longer apply.

Cigarette packaging will have to be redesigned, because the European Union holds the copyright on the photos of diseased lungs and other off-putting images emblazoned on the packs.

On Tuesday Mr Raab said: “As you will see when we set out our plans, some of these hair-raising scare stories are very far from the truth and I look forward to explaining the context on Thursday”. Whilst smaller firms simply do not have the resources to assess what the worst-case scenario would mean to their enterprises.

“It appears that Dominic Raab is passing the buck”, he said.

Ben Bradshaw, an MP from the People’s Vote campaign seeking another referendum on Brexit, said Britain was in a “shambolic situation” faced with a “false choice between a botched Brexit or a no deal Brexit”.

The full implications of a no-deal exit will be explored at New Food’s one Food Brexit conference on Thursday 1 November at the QE11 Centre in central London. The organization got a boost last week when British businessman Julian Dunkerton donated £1-million (C$1.6-million) to the cause.

“The UK is a major centre for investment banking in Europe”.

Mr De Gucht said: “In the end there will be a deal, whether this is a solution is quite a different question”.