Post-Brexit borders may bring £1bn bill

Customs checks at the border after the UK leaves the EU could cost £1bn (€1.1bn) a year and cause delays for goods being shipped in both directions, according to a report by Oxera, an economic consultancy.

The estimate assumes low regulation but high levels of enforcement and is based on World Trade Organisation (WTO) data on the cost of trading across borders, Andrew Meaney, a partner at the Oxford-based policy analyst, said.

It comes as Taoiseach Leo Varadkar publicly stepped up the Government’s warnings about the threat of Britain erecting a Brexit “economic border” across Ireland.