While some still choose to hope that Britain’s departure from the EU can be averted, business and government are spending heavily in preparation for departure DAN KITWOOD/GETTY IMAGESThe scale of the financial fallout from Brexit was laid bare yesterday as the City regulator said that it would have to spend 12 times more this year than it did last year on preparing for Britain’s departure from the EU. As it detailed its latest annual business plan, the Financial Conduct Authority (FCA) said that it had budgeted for its Brexit costs to hit £30 million this year. That is up from the £2.5 million it spent on Brexit over the year to the end of March and the burden is likely to fall on businesses with exposure to markets in the eurozone. The regulator is forced to work closely with the government, Treasury and the companies it regulates on managing the complexities of…

Source: The Times April 09, 2018 16:01 UTC