Price hikes, long delays on the cards
Supermarket shelves will empty, prices will increase, there will be a shortage of foodstuffs, goods, and consumers will bear the brunt. Medicines will likely be in short supply.
For any business that imports or exports goods, there will be inevitable lengthy delays at ports. UK passengers will face delays in travelling simply because they will line up in different queues than EU passport holders.
UK passport holders will have to fill out an electronic visa application costing £6 for three years to travel to EU nations other than Ireland. (Both the UK and Ireland are in a joint travel area, outside of the Schengen visa scheme).
The pound will likely decrease dramatically in value. Since the Brexit referendum in June 2016, sterling has lost some 20 per cent against the euro.
In a briefing from Mark Carney, the governor of the Bank of England to the UK cabinet, he said property prices could fall by up to one-third across Britain in the event of a no-deal scenario.
British car makers say that at least 100,000 jobs are at risk — and possibly as many as 800,000 in related companies — if there are long delays because of a no-deal Brexit. Airbus is warning it may shut its UK operations.
Lorries from the UK would no longer be able to use EU roads unless they are licensed — and there will be only one EU license available for every 25 trucks. UK driver licences won’t be valid across the EU.
British police forces have made contingency plans for civil unrest that may be spurred by the no deal scenario. The military has reportedly put some 4,000 troops on standby.
Scotland’s nationalist government has said that a no deal scenario would mean it would accelerate plans for a second referendum on independence. Most Scots voted to remain in the EU.
There would a very real prospect of political and sectarian strife in Northern Ireland re-igniting as the seamless border is replaced with one where customs, passport and security checks are necessary.