Yesterday it was confirmed key minister Boris Johnson has agreed to continue talks with the EU. It has not been stated how long the talks will continue for.

Reacting to the news, chief govt of the British Retail Consortium Helen Dickinson has said the prolonged uncertainty could result in larger fees getting passed on to people following 12 months.

“The 11th hour has passed and every single passing instant of uncertainty makes it more durable for businesses to get ready efficiently for the 1st January,” she said, stressing that suppliers are “doing all they can to get ready for all eventualities”. This incorporates developing new customs and VAT procedures and functioning with suppliers to ease logistics.

She said: “Both sides should double down and do what is needed to agree a zero-tariff arrangement, or else it will be the community that fork out the cost of this failure. With numerous people’s funds currently strained by the financial influence of coronavirus, homes can sick-afford to pay for a major increase in foods costs. For the sake of buyers and businesses about the Uk, we want a offer in the following 3 months.”