George Osborne hasn’t been shy to take the occasional pop at Boris Johnson’s government and now the reason why seems clear. His family firm Osborne & Little’s annual accounts up until 31 March have just been published and they don’t make for entirely happy reading. The leading wallpaper manufacturer has been forced to report a pre-tax loss of £106,000, down from last year’s profit of £1.4 million, with Brexit cited as having an ‘immediate adverse effect on profits.’
Boris Johnson’s successful efforts to take the UK out of the EU on 1 January 2021 caused the company ‘unforeseen costs’ amounting to an extra £400,000, thanks in part to increased shipping charges and higher duties on goods. Fortunately for the furnishings firm, a new distributor in Germany was set up March, enabling their goods to flow ‘more easily’ ensuring ‘significant cost savings.’
And Brexit isn’t the only Tory policy resented by the beancounters at Osborne & Little.
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