UK Delays Post-Brexit Product Markings to Stave Off Extra Costs
- Firms now don’t need to display UK mark until end of 2024
- Companies face rising corporation tax, double-digit inflation
A British Union Flag sticker on strawberries near Maidstone, UK.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
The UK delayed the roll-out of new post-Brexit product safety marking in order to stave off extra costs for companies that are already under pressure due to rising inflation and expected tax rises.
The UK will continue to recognize for another two years the European Union’s marking system, which businesses use to prove their products follow the bloc’s health, safety and environmental regulations, Business Secretary Grant Shapps said on Monday. Companies now have until Dec. 31, 2024 to show their products comply with Britain’s new rules by displaying the UK Conformity Assessed marking.