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Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
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The Markets
by Proactive
Proactive UK has moved.
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Industry & services

Tighter border controls to cost UK billions, warns watchdog

Tighter border rules following Brexit are expected to cost the UK an additional £4.7 billion, revealed the government’s auditing office.

Across the lifetime of the country’s 13 most important border-related programmes, the National Audit Office (NAO) expects that amount to be spent, having already cost taxpayers £2.6 billion since March last year.

Much of the cash required will be used to add new infrastructure and create new programmes to improve the performance of the border.

However, the forecast does not account for hiring additional staff or any extra costs associated with border management.

The government has been forced to delay the introduction of import measures five times since the start of 2021.

By delaying the changes, the NAO believes the government has wasted spending on unnecessary infrastructure and staff, while also failing to prepare businesses and ports.

Most alterations to import rules are expected to be brought in this year, although a deadline for full completion has yet to be provided.

The NAO noted this in its report and warned there was a “significant risk” that the delivery of the new rules could fall “well into the future”.

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