Economists tell us Brexit will have a substantial economic impact on our lives. But how would ordinary people experience them?

Economists tell us Brexit will have a substantial economic impact on our lives. But how would ordinary people experience them? Ben Chu looks at the possible impact on wages, benefits and taxes.

Maybe it has not been explained often and simply enough why there won't be frictionless trade - even with a trade agreement. So let me try to do this: WHAT IT TAKES TO HAVE FRICTIONLESS TRADE - AND WHY WE WON'T HAVE IT WITH THE EU EVEN WITH A TRADE DEAL (thread)

As EU and US negotiations continue, how many deals have been made and what proportion of UK trade do they cover?

There's been a lot of talk about free trade in the Brexit debate, but what exactly is a free trade agreement and how does it differ from what the UK has had with the EU?

As a European Union member, the UK is automatically part of about 40 trade agreements which the EU has with more than 70 countries. If the UK leaves the EU without a deal it would lose these trade deals immediately - worth about 11% of total UK trade.

Politicians have been bickering about Brexit for the past two years, but everything that has happened so far is just figuring out how we leave the EU - we still have to sort out what kind of relationship we have once we have actually left.

One term that keeps cropping up in discussions around Brexit is the customs union. What is it and how does it work?

'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.'

If not, and the vote is to exit, it will be no good saying afterwards that “we didn’t understand what we were voting for” – the repeated complaint made by eurosceptics about the 1975 Referendum. By then it will be too late.

The EU and Japan's Economic Partnership Agreement entered into force on 1 February 2019.