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Brexit Cost to Aerospace ‘Extremely Worrying,’ Lawmakers Say

  • Expense will come from customs checks, Commons committee told
  • Airbus, Boeing will also submit evidence to hearing Tuesday
A technician watches a prototype Mars rover in a simulated Mars environment at the Airbus Defence and Space company in Stevenage in April 2016. 

A technician watches a prototype Mars rover in a simulated Mars environment at the Airbus Defence and Space company in Stevenage in April 2016. 

Photographer: Adrian Dennis/AFP via Getty Images

Svenja O'Donnell and Thomas Seal
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Britain’s exit from the European Union could cost the U.K. aerospace industry 1.5 billion pounds ($2 billion) in extra customs expenses, the sector’s national lobby group said in a submission to lawmakers.

The sum would come from “increased checks at the border” if British and EU processes do not remained harmonized, ADS Group said in evidence to Parliament’s Business, Energy and Industrial Strategy Committee. Additional burdens such as paperwork on proof of origin, regulatory compliance, storage and delays could total 15 percent of the value of each transaction, it estimates.