GFSB urge CM to make more details on treaty public – Government says providing details now would create bigger problems

Gibraltar Frontier News

The Federation of Small Businesses has asked the Chief Minister to make public more details about what a Brexit deal could look like.


It says the small business community is “extremely concerned”.

Members don’t think it is possible to prepare simultaneously for both a closed border and a fully open one.

Whilst they welcome the prospect of a treaty agreement being reached, they are “very concerned” about what that deal could contain and the implications for business – in particular the effects of an open border for goods and the imposition of a VAT equivalent or transaction tax.

The GFSB says if such a deal is secured, the consequences for business may be huge, and there may be positives, but also many potential negatives.

The Federation has also expressed concern that any deal may only be for an initial period of four years.

It says it would be a significant burden for businesses to have to prepare for a “no deal scenario” in 4 years’ time, whilst simultaneously dealing with the immediate and massive challenges that a treaty agreement may bring.

The Federation of Small Businesses have asked the Government to urgently release further information.

Government committed to full transparency but says providing details now would create bigger problems

The Government has committed to full transparency and to providing all details as soon as possible.

But it says doing so now would potentially create bigger problems for Gibraltar in the ongoing negotiations and would not be in the interests of small businesses or the wider Gibraltar public.

The Chief Minister has written to the GFSB to explain this.