Britain leaving the European Union has been described as akin to attempting to remove an egg from an omelette. The governments  “no deal” papers reveal the complicated exercise could carry significant costs for consumers and businesses if Britain and the EU fail to agree on a transition period and a subsequent trading agreement.

Those increased costs would be very likely to have a negative impact on the economy and could mean higher prices in the shops as firms pass on the higher costs of doing business.

“If the UK left the EU on 29 March 2019 without a deal there would be immediate changes to the procedures that apply to businesses trading with the EU. It would mean that the free circulation of goods between the UK and EU would cease,” the government says.