That is not backed up by any credible economic institution. To quote the CBI, any limited advantages of relying on WTO rules are easily outweighed by the significant costs to the economy as a whole.
Let's discuss the non-tariff barriers for a moment. Leaving the EU and abandoning a common regulatory agenda will means British businesses could face new barriers to trade such as burdensome customs procedures, discriminatory tax rules and practices, duplicate technical regulations, standards and conformity assessment procedures, sanitary and phytosanitary measures and barriers to FDI.
By leaving the EU we also lose a means for settling disputes, whereby firms can go to the European Commission or ECJ. WTO dispute settlement is far more cumbersome and inefficient.
By crashing out of the EU without a deal, the UK would no longer have any other trade agreements because its agreements with other countries are negotiated through the EU ! We are going to spend DECADES trying to renegotiate dozens of trade deals around the world with the likes of Colombia, South Africa, Mexico, Norway etc with companies facing uncertainty and dislocation.
That is incorrect, simply because EU takes forever to finalise trade deals thats is not the case with every other free country out there. The US-Jordan trade deal was signed after 4 months of negotiations and the US take One and a half years to conclude negotiations. EU on the other hand is a bureaucratic nightmare, just a single European entity can hold a deal to ransom as happened with the case of Canada.
Every single country out there negotiates trade deals, and UK is one of the largest economies in the world. In addition interim measures will simply follow existing regulations till new ones fall into place, we are not stepping out into the unknown, the fear mongering is baseless! Every country deserves to write its own destiny rather than have it decided by germany!
The UK lacks the capacity and expertise needed to do this as swiftly as possible. The UK hasn't negotiated a bilateral trade deal in 40 years - we've done it through the European Commission ! And FTAs have become increasingly complex over time. The UK is a substantially smaller market with less to offer to potential partners in negotiations than the EU, which alone contributes a quarter of world GDP so stop with these fantastical delusions about all this negotiating leverage we have.
Its back of the queue time for us, whilst the same working-class Brexit voters who thought they voted for a bright and prosperous future are going to be the worst hit.
That is a very very wrong assessment!
UK is one of the worlds largest markets....largets, importing over £50 BILLION every single month! No country in its right mind would not want to lose such an opportunity. This is not some floundering third world state we are talking about.
Everyone wants to trade with us and sell us stuff......that is our single biggest trump card! (no pun intended)
EU are the worst and slowest when it comes to trade negotiations. Neither are the bureaucrats leading the negotiations some sort of natural talent that have mastered the black-art of trade deals. Negotiations happen between teams who have the facts at hand and know what they want. We are not haggling in a market, each and every point would be reassessed a countless times before being finalized!
Shows the extent of knowledge, or rather lack of, when someone responding to a post starts off by claiming that the opposing argument presented is 'stupid'.
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With approx 65 million and approx 680 million populations respectively, the UK businesses will immediately find it's free unfettered access to a potential customer base of 745 million (EU inc. UK) being reduced to 65 millions (UK only), whilst the EU businesses will see unfettered access to a customer base of 745 million reduced to 680 million potential customers (EU only). It doesn't take a genius to work out which side, overall, will be affected the most.
I apologize for that statement.
An Eu deal gives you blanket access, Yes, but its a mistake thinking the whole EU wants the same thing.
We are negotiating with 27 entities, each of whom wants a different thing. Country to country every EU nation only benefits from trading with Britain as they are all net exporters. There is no whole of EU, Belgium alone held the Canada EU deal at ransom, each and every country wants its own thing.
Greece doesn't care if Germany is unable to ship its cars to the UK, Poland doesn't care want happens to Spanish agricultural exports, the Bulgarians, Czechs, Latvians prioritize free movement of labor and give two hoots about trade........each and every country wants its own thing.
So what exactly does the EU do........ignore us, not trade with us?! They can act the stiff upper lip on the media all they want, it plays well to their audience and the wrist slitter s in the UK. But they are desperate for this as much as we are.
The EU might note care for the 65 million strong market that the UK is, but France, Italy, Spain, Germany and every one of the individual 27 entities DO CARE! Its a massive market to each one of them and they will not let it go!
