What's happened
As the UK grapples with the ongoing effects of Brexit, businesses report a significant decline in trade with the EU, while law enforcement reveals a major drug trafficking case. The International Investment Summit highlights the urgent need for regulatory alignment to restore investor confidence.
Why it matters
What the papers say
According to The Guardian, the International Investment Summit is a critical moment for UK businesses facing the fallout from Brexit, with a 27% drop in exports since 2021. Stella Creasy emphasizes the need for regulatory alignment to restore investor confidence. Meanwhile, The Scotsman reports on the struggles of Scottish businesses dealing with new bureaucratic hurdles, with logistics companies like Europa Worldwide Group investing in customs support to help exporters navigate these challenges. In contrast, BBC News details a significant drug trafficking case where undercover officers thwarted a gang using a legitimate fruit import business to smuggle cocaine, illustrating the dual challenges of trade and crime in the post-Brexit landscape.
How we got here
Since Brexit, UK exports to the EU have dropped by 27%, with businesses facing increased regulatory burdens. Concurrently, law enforcement has uncovered a major drug trafficking operation exploiting legitimate businesses to smuggle cocaine into the UK.
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