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The government has no plan to save a vanishing sector.
Jonathan Portes assesses the extent to which predictions about trade and migration before the Brexit vote have materialised, highlighting that trade has been reduced by additional barriers but the extent to which liberalisation would increase migration flows in the short term was underestimated.
While the picture’s hardly pretty and certainly not what advocates of Brexit envisioned, none of it surprises economists. As a former Bank of England official observed: “You run a trade war against yourself, bad things happen.”
The PM is reportedly considering bypassing the Northern Ireland protocol so British sausages can continue to be sold there.
"All this will do is provide a free subsidy for cane coming into the UK at the expense of UK farmers" /
So far, in the first two months of Brexit, the following industries have indicated that they have been harmed: Aerospace; Airlines; Architecture; Art and Antiques; Beer; Bees; Cattle and horse breeding; Charities; Cheese; Chemicals; Cars; Classic Cars; Construction; Cosmetics and Perfume; e-Commerce; Fabrics; Fashion; Ferry services; Film and TV production; Financial Services; ...
Having left the largest internal market in the world, the search is on to give the impression that there are many new trade partnerships out there to compensate for the already very real loss of cross-Channel trade. / At the moment, Britain’s trade with the CPTPP countries is less than our trade with Germany alone.
Richard Barfield explains the deluge of restrictions and regulations that have been saddled on firms after the UK’s departure from the EU
Many UK exports won’t qualify for preferential terms.
Britain has been told to prepare for a no-deal Brexit when the transition period ends on 1 January 2021, after trade deal talks reached an impasse.
This real-life experience of a small West Yorkshire company, before and after the creation of the single market, provides an insight into our imminent future in the event that we leave the EU without a worthwhile trading deal.
'It is hard to predict how full Brexit would play out, because this scale of multiple simultaneous renegotiations of global trade agreements is unprecedented – and no country has ever left the EU. It certainly can’t be assumed that Britain is bound to get quick and good deals because it is a large economy.'
How will the United Kingdom’s vote to leave the European Union impact the ongoing sovereignty dispute with Argentina over the Falkland Islands (Malvinas)?
The UK must ensure that it retains access to the Single Market, has an open trading regime and maintains a stable regulatory framework with the European Union to minimise the impact of Brexit on the North East economy. This is the key conclusion of ‘Leaving the European Union’, a report by a powerful regional economic group says today.
No deal Brexit is not the end. It’s only the beginning. To the no-deal Brexiters who say, ‘I just want to leave” or “leave means leave”: you do realise that we will be trying to get a new deals the minute we leave, don’t you?
"...rules of origin are how customs authorities classify where an exported product has originated. The rate of duty that importers are required to pay when bringing goods into a country depends on three elements – the type of goods (which is classified by a ‘tariff code’), the country the goods are being imported into, and where they are judged to have ‘originated’ from – i.e. the origin."
On March 21, 2018, in Kigali, Rwanda, Africa took the giant step of creating a large and integrated market by establishing the African Continental Free Trade Area (AfCFTA)
Despite calls to 'take back control' the economic reality is that tariffs will be determined by the 'bound rates' that the UK already has in place under the WTO and, ultimately, no tariff regime will make up for loss of access to the EU market
Jacob Rees-Mogg has put his name to an “Economists for Free Trade” (EfT) report claiming a no-deal Brexit would bring a £1.1 trillion boost to the British economy over the next 15 years. This is pure fantasy. The overwhelming consensus amongst economists is that quitting the EU with no deal would be a disaster on a truly magnificent scale.
The Tory leadership race has brought a no-deal Brexit closer. Most candidates have either elevated No Deal to a heightened form of Brexit - a "clean" Brexit - or have insisted it is preferable to an extension beyond the current Article 50 deadline of 31 October.
According to the Guardian, the EU is looking into adding a “punishment clause” in the future EU-UK trade agreement. Such a clause would allow the EU to increase its tariffs back to WTO levels in case the UK ends up lowering “social and environmental” regulations in order to regain a competitive advantage.