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Four Out of Five Belgian Companies Aren't Prepared for Brexit

  • Government readies package to help in case of no-deal exit
  • Customs declarations for exports could rise 47%, ministry says
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Theresa May's Brexit Plan Easily Defeated in Parliament

With 80 percent of Belgian companies unprepared for Brexit of any kind, the government of Prime Minister Charles Michel is putting together a package of measures to help businesses in case the U.K. crashes out of the European Union without a withdrawal agreement.

Out of some 25,000 Belgian businesses that trade with the U.K., only about 5,000 are prepared for the customs formalities and extra administrative burden that will come with Brexit, deal or no deal, according to Finance Minister Alexander De Croo.