Next boss Lord Wolfson: No-deal Brexit will only bring ‘mild disruption’

The new Government is preparing for a departure from the EU better than its predecessor, he told the BBC’s Today programme.

Wolfson, a supporter of Brexit who nevertheless previously feared that a no-deal exit would bring “chaos and disorder”, said he still hopes a deal will be possible.

However, he maintained that the Government’s contingency planning for no deal, and simplified customs and border procedures, had reduced risks such as delays in the supply chain.

Wolfson said: “We are a long way from disorder and chaos, the fact that HMRC has introduced these transition methods will make an enormous difference. I think the encouraging thing is that we are rapidly moving from the disorder and chaos camp to the well-prepared camp.

“I should stress that I would much prefer a deal to no deal, but I am much less frightened by no deal if the Government is prepared, and there is every indication it’s taking it more seriously.”

The Next boss criticised the previous government for how it had handled Brexit. He said: “There was a wilful attempt to not prepare. They were so scared of no deal they couldn’t allow anyone to admit it could happen. That’s changing and I think that means in the worst case you get mild disruption – in the best case, you get a deal.”

He said preparations for no deal made a deal between the UK and the EU more likely. He observed: “In the vast majority of deals I’ve done, if the deadline is midnight, the deal gets done at 11.55, but we need to have nerves of steel and prepare ourselves for either outcome.”