While British MPs narrowly voted against leaving the European Union without a deal earlier this week, the United Kingdom is scheduled to divorce the United Nations in less than three weeks.
Previously, British MPs rejected Brexit deals brought before Parliament by prime minister Teresa May. The EU, meanwhile, will likely extend the deadline.
“Clearly, with customs and tariffs and VAT, those rules which have been in place for a number of years, those rules are highly likely to change, and that is something people will need to get the detail on to report back to their New Zealand shareholders,” a partner at accounting and consultancy firm Grant Thornton, Mark Hucklesby, told Larry Williams.
“If there is a no-deal Brexit, there will be no transition and they will be straight into world trade organisation rules and regulations, something that we have a great deal of expertise in.”
Finance minister Grant Robertson, too, has suggested UK tourist numbers could fall and Kiwi goods would be at risk of border delays.