The British pound has fallen 18% since the June referendum on Brexit. Contrary to expectations, the UK economy grew 0.8% in the third quarter of 2016, the strongest increase since 2010. And Theresa May has announced that she will trigger the exit procedure before March 2017, despite the judgment by the UK High Court. It appears that the United Kingdom is heading for a ‘hard Brexit’.
In a brief update, KPMG and Meijburg & Co describe the developments of the last few months, paying special attention to the potential implications of a Brexit for trade between the Netherlands and the United Kingdom. A separate factsheet deals with Customs implications.