Responding to the publication of the first tranche of no-deal notices, Stephen Martin, Director General of the Institute of Directors, said:

“This is a welcome step from the Government, though not before time. Now the Government has planned for the worst, it can get on with negotiating for better.

“These notices should serve as a call to action for the many firms that feel they haven’t had enough information on what to plan for. To date businesses have been relying on trade associations, costly legal advice and even the EU to help equip themselves with the information needed to plan for all outcomes.

“Further detail on what steps the Government would take to mitigate the effect of no deal is especially important for business confidence. The Government must continue to come clean about these plans so that firms are truly in the know when making their own preparations. A no deal would be bad, but a no deal with no planning would be worse.

“Fundamentally, while releasing these notices was important to help businesses prepare for no deal, this is not the outcome that anyone should want. The Government must now throw all of its efforts into ensuring a withdrawal agreement is reached and we have an all-important transition period to allow us to establish our future economic partnership with the EU.”