FIRST AIRED: August 27, 2018

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Transcript

00:00:01
>> Stockpiling medical supplies and food in London. Britain is trying on its Brexit crash helmet, in case the country leaves the EU next March without a deal. While this scene is jut a demonstration, the UK government on Thursday addressing such an outcome in earnest.>> It is not what we want, and it's not what we expect, but we must be ready.
00:00:25
>> Brexit minister, Dominic Rob, laying out the beginnings of a contingency plan. The government has published its first official advice for businesses and citizens regarding how to prepare for a no deal Brexit. According to Reuters, Will James, the key theme is more paperwork.>> The real message is that there's gonna be a lot more red tape for British firms who are selling into the European Union.
00:00:47
Consumers are gonna have to pay more for their holidays. There's gonna be difficulty in accessing funds if you're a British person and you live in the EU. So whilst the government is saying things aren't gonna be as bad as some people have predicted, they are actually admitting that they are going to be quite bad.
00:01:02
The main thing that we have picked out of these papers is cross border trade. So it's the increase of paperwork the firms will have to do if they want to either sell goods into the EU or buy goods from the EU. That's the streamlined process at the moment.
00:01:15
Cuz we're a member of the block, but obviously, if we're not, and there's no deal, a lot more forms are gonna have to be filled out. Sounds like a trivial thing, but when you're doing it for billions and billions of pounds worth of goods, it becomes a huge cost.
00:01:27
You need to hire people to do it. It takes time, there are delays.>> Businesses welcomed the information, but say they need more detail. That may come over the next few weeks, when more notices are expected. Despite the planning for crashing out the EU, both sides maintain that won't happen.
00:01:46
>> I'm still confident that getting a good deal is by far the most likely outcome.>> With seven months until the deadline, Brussels and the UK say they're still aiming for an agreement.