Business understands that making deals are positive so a deal is of course welcome.

Everyone is exhausted by the last 4 and a half years, but the work can’t end here.  The UK and EU must improve market access over time.  It has to be a living document which makes trading across borders easier to secure and grow jobs and benefit consumers.  The agreement is the essential scaffolding to safely rebuild, over time, relationships and economies here and across Europe.

However, this deal comes with significant cost.  It is the first trade deal in history which makes doing business more not less difficult and enforces a full customs border between Britain and the EU and with Northern Ireland.

In less than 8 days there will be a fundamental change in how businesses here buy from Britain.  Despite some easement created by this deal there will still be significant new complexities and costs and without the detail, systems and processes our firms are not ready.  As a result, the start of 2021 are going to be very difficult.