The British Parliament on Tuesday voted 432 to 202 to reject a deal laying out the terms of the country’s withdrawal from the European Union. (Credit: Mark Duffy – AFP/Lehtikuva)

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THE BRITISH Parliament’s decision to reject the Brexit deal of Prime Minister Theresa May will make it considerably more difficult for Finnish businesses to adapt to the UK’s withdrawal from the European Union, gauges Timo Vuori, the director for international affairs at Finland Chamber of Commerce.

Vuori on Wednesday said the collapse of the deal is toxic for trade and complicates the operations of the over 15,000 Finnish export and import companies dealing with the UK.

“We know now that Britain will leave the EU’s internal market for good in a couple of months, on 29 March, as was the dreaded worst-case scenario,” he said. “The realisation of a hard Brexit will effectively overnight take Britain trade policy-wise from the internal market outside the EU, to become a third country like Russia.”

The British Parliament on Tuesday voted 432 to 202 to reject the deal that lays out terms for the country’s withdrawal from the 28-country bloc. Prime Minister May survived a no-confidence vote in the Parliament on Wednesday, with 325 MPs re-affirming their confidence in her administration.

Vuori said the British government must now weigh up its options to guarantee functional partnerships and trade relations with EU countries also after 29 March.

“Ensuring that the trade of goods and services functions as well as possible without high tariffs and painstaking customs procedures is in the best interests of Britain and the EU. The mobility of employees must similarly be as easy and smooth as possible,” he underscored.

He later tweeted that calling off the withdrawal altogether would not upset the markets in the UK or EU.

Aleksi Teivainen – HT
Source: Uusi Suomi