Our Approach to Brexit

Customers and Suppliers of the Group headed by Barrett Steel Limited (‘the Group’)

Following our last Brexit Statement in January 2019, two extensions to Article 50 and a change in Prime Minister, the latest Brexit deadline is 31 October 2019. The chances of a no-deal Brexit have also increased impacting exchange rates and scenario planning. We therefore are again required to set out our current position on Brexit and the impact for our business and customers.

The importance of the steel industry to the UK economy, as evidenced by the significant Government efforts to support British Steel, provides us with some comfort as to potential future policies being introduced because of Brexit, however we are not complacent.

The significant uncertainties of the impact of Brexit on future trade, importing and exchange rates remain.

As a result, we have continued to monitor the overall situation throughout the year and we have put in place procedures and mechanisms in preparation for various scenarios.

Our overall aim remains of operating a robust business with flexibility to adjust to changing circumstances and to maximise opportunities.

To read our policy in full please download our complete Brexit Statement here