Delays in finalising a key post-Brexit deal with the European Union are costing the UK up to £100m a week, according to new parliamentary analysis.
The agreement, known as a sanitary and phytosanitary (SPS) deal, would reduce checks and paperwork on food and drink traded between the UK and the EU by aligning standards.
Although Prime Minister Sir Keir Starmer announced a major reset in relations with the EU earlier this year, the SPS deal has yet to be completed.
Research by the House of Commons Library suggests the deal could be worth up to £14m a day once fully in place, by cutting red tape and boosting imports and exports. The figures vary depending on the time of year and trading patterns.
The Liberal Democrats, who commissioned the analysis, said the delay was hurting businesses and the wider economy. Their Europe spokesman, Al Pinkerton, accused the government of moving too slowly and said millions of pounds were being lost every day as a result.
The government rejected the criticism, saying it had already secured a landmark agreement with the EU in May and that negotiations on the SPS deal were ongoing. Officials said talks only began once all 27 EU member states had agreed a negotiating mandate.
The cost of Brexit to UK businesses remains significant. Earlier figures showed firms lost £37bn in trade in the year to last September, with total trade with the EU still 5% below pre-Brexit levels. Around 14% of UK exporters have stopped selling to the EU because of new rules and paperwork.
Some companies say the extra bureaucracy has been costly and time-consuming. Marks & Spencer has previously said it had to rent extra warehouse space just to store export paperwork.
Ministers believe the SPS deal could increase UK agricultural exports to the EU by 16% and imports by 8%, while saving businesses up to £1m a month by removing costly certificates and border checks.
Pro-EU campaigners said the impact of Brexit is being felt daily through higher costs and weaker economic growth, and urged both sides to move faster to finalise the deal.
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