Diageo warns MPs on hard Brexit costs

Guinness and Baileys maker Diageo and travel company TUI have warned about the costs of a hard Brexit.

Diageo said Brexit could cost it tens of millions if the UK did not replicate the EU’s trade deals with other countries for Scotch whisky and keep an open border in Ireland. Dan Mobley, the drinks company’s head of corporate relations, said losing the benefits of EU trade deals with so-called third countries such as South Korea, Colombia and South Africa would be unwelcome.