The latest on EU Exit
The UK finally agreed a trade deal with the EU on 24 December 2020. This meant that, when the transition period ended on 31 December 2020, the country avoided a no-deal Brexit.
This is a positive outcome. As LeasePlan and the wider leasing industry have long argued, a no-deal Brexit would have been bad for fleets and motorists – not least because it would have resulted in import tariffs and significant delivery delays for new vehicles. There will now be no tariffs to be passed on to consumers in the form of higher list prices.
However, it should be emphasised that not all of the challenges have been overcome. The up-to-the-wire nature of the negotiations meant that the economy will now face a period of adjustment, away from planning for the worst and towards accommodating the deal as it is.