Ms Carol Lynch:

If there is no deal, we are talking about the United Kingdom trading with the European Union in the way any third country would. It would be equivalent to importing from the United States, Brazil or Russia. Customs tariffs will kick in and be comparable to the standard duty rates that apply to any most favoured nation, MFN, country. For a lot of products, the rate would be 0%, for example, for IT and pharmaceutical products. An average rate of between 3% and 5% would probably apply to most general manufactured goods. In the agrifood sector, however, there are not only tariff rates but also agricultural rates. Therefore, the tariff duty rate could be 18% or 20%, but that figure could be doubled, with the addition of a levy, which is normally applied on a per tonne basis, on beef or milk products, for example. It is very hard to take the euro amount per tonne and turn it into a tariff rate, but a reasonable estimate would be a figure of 30% or 40% by the time all of the charges are added.