Brexit Bulletin: Mind the critical gap

Follow Us Get the newsletter What's Happening? Boris Johnson's officials are racing to avert a major border crisis. Fears are growing that a vital new IT system may not be ready in time for when the U.K. leaves the European Union trade regime at the end of this year. The government's plans for the border have "critical gaps" while some parts of its blueprint are "unmanageable," according to a leaked government document obtained by Bloomberg News. The grim warnings from a group of freight officials come a little under four months before the end of the U.K.'s transition period, and as chief negotiatiors Michel Barnier and David Frost prepare for another tense round of talks next week. Our Brexit reporter Joe Mayes got the scoop: you can read it in full here and in thread form on Twitter, too. Avoiding monster traffic queues and delays will all depend on the government getting a major new IT project off the ground on time — and then persuading thousands of truckers and their bosses to use it. What could possibly go wrong? Lots, according to the industry, and the government appears to be concerned, too. It's a reminder of the changes coming at the end of the year — whether the U.K. gets a trade deal or not. The chances of the latter now look to be rising, at least according to Barnier. He complained this week that Britain has to shift its position if it is to get a deal. And he was backed publicly today by German economy minister Peter Altmaier, who said any deal needs to be compatible with the EU's constitution. "No one should expect the EU to be at odds over this issue, that it will fall apart, that it won't be united," Altmaier said. The reasons the talks are deadlocked are well-rehearsed by now — the big obstacles remain over state aid and fishing rights — but time is running short to secure a deal by a key summit in October. Expect next week's talks to be bumpy. — Edward Evans For more on global trade, sign up to our daily Supply Lines newsletter. Beyond Brexit Amazon drivers are hanging phones from trees to get more work. One of the world's richest petro-states is running out of cash. Successful 60/40 investing could be a sign democracy is failing. Homes in London's Olympic Park are now too hot to live in. Boris Johnson can save London, says Therese Raphael. These swing voters will decide who wins the U.S. election. Click here for the latest maps and data on the spread of coronavirus. Sign up here for our coronavirus newsletter, and subscribe to our podcast. Want to keep up with Brexit? You can follow us @Brexit on Twitter, and listen to Bloomberg Westminster every weekday. Share the Brexit Bulletin:  Colleagues, friends and family can sign up here.  For full EU coverage, try the Brussels Edition. For even more: Subscribe to Bloomberg All Access for our unmatched global news coverage.   Before it's here, it's on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can't find anywhere else. Learn more.   You received this message because you are subscribed to Bloomberg's Brexit Bulletin newsletter. Unsubscribe | Bloomberg.com | Contact Us Bloomberg L.P. 731 Lexington, New York, NY, 10022