Britain's No Deal With Europe Could Cause A Loss Of $1 Billion 100 Million In The British Fashion Industry.

The British Fashion Council warned that if Britain's "de Europe" must be carried out in accordance with the provisions of the World Trade Organization (WTO), the no-deal Brexit could cause 8.5 to 900 million pounds (1 billion 100 million dollars) damage to the British fashion industry.

Based on the 2018 export figures, the group said that stricter controls over cross-border shipping could also impact the development of the British fashion industry.

British Prime Minister Boris Johnson has made it clear that Britain must complete the European Commission before the deadline of October 31st (2019), regardless of whether the revocation agreement is in place.

The British Fashion Council is urging the government to seek an agreement with the European Union to ensure the sound development and stable growth of the British fashion industry. Through trade agreements, financial channels, free flow of talents and promotion support, it helps to create relevant incentives to ensure that the UK design industry has international competitiveness in renewals, and to make recommendations based on different scenarios and transform them into the best meaning of the fashion industry and the best way to deal with global trade challenges.

The British fashion industry has contributed 32 billion pounds to the British GDP and employs more than 890 thousand employees.

The action taken against the WTO trade rules raises many concerns, including the need for enterprises to assess the impact of WTO tariffs, and whether enterprises or end consumers are subject to additional costs. Other problems, including the impact on logistics, will not be properly planned before the new import and export rules are specified.

As far as samples are concerned, what kind of condition will happen in the samples being transported, and what documents need to be collected are not clear. The British Fashion Council has already provided instructions on how businesses are stopped and is required to provide documentary information, though not yet. Customs and value added tax (VAT) will apply to samples.

In addition, the British fashion industry has expressed concern about immigration. The Government recommends the adoption of the second level Tier General Work Visa (Work). The minimum wage threshold is 30000 pounds on terms of salary. The technical wage of fashion manufacturing industry is lower than that standard.

Similarly, the list of occupational shortages - including all available vacancies in the local market that fail to be filled on an annual basis - does not cover the roles required by any high-end fashion industry. These occupations in the United Kingdom are also known as skills gap. The British Fashion Council wants to examine the salary threshold and the occupational shortage list as an urgent matter.

On the (8) month, Simon Wolfson, President of the British clothing brand Next, said it was unwise to carry out a minimum wage of more than 30000 pounds.

However, he did express confidence that many British fashion brands and retailers are taking the necessary precautions to prepare for the deal.