Biba repeats Brexit fears, as Boris renews pledge to leave EU by Halloween

“Let’s get Brexit done on October 31st,” these were the words of the prime minister Boris Johnson as he addressed delegates at the last day of the Tory Party conference on Wednesday 2 October.

The UK’s leader said that even his mother voted leave. He said that his aim is to drive up the UK’s productivity, and that includes growing the insurance industry.

But Graeme Trudgill, executive director at Biba raised concerns with Insurance Times about the necessary implementation period that the insurance industry needs to continue business with clients in Europe. His fear is that some members might have to stop trading in that part of the world.

In terms of how long might be needed, this period could be anything from the time the UK leaves to up to three years after. 

Biba is currently collating scenario based Q&As from its members to ease the transition.

In his speech, Boris added: “Brexit is an opportunity in itself, we will be able to allow bigger tax breaks and yes we will have those free trade deals.” 

The prime minister plans on raising the UK’s productivity by “creating economic free market of dynamic capitalism”.

“We always had the courage as a country to be original and we now have the chance to relaunch ourselves to the world,” he said.