Friday, November 13, 2020
More Brexit trade problems
As if we didn't have enough to worry about, what with the Prime MInister's fiance dictating staff appointments in his office and all, the latest news on Brexit must be causing some considerable concern, not least because of its impact on trade and the price of goods in the shops.
The Independent reports that British businesses are facing disruption to as much as £80bn of global trade because of Boris Johnson’s failure to roll over 15 EU trade deals with other countries in time. Apparently, the government has just 50 days left to sign free-trade agreements with countries such as Mexico, Singapore and Canada to replace the ones it will otherwise lose access to on 31 December. And the deadline just got mved closer:
Adding to the atmosphere of crisis, the shadow international trade secretary, Emily Thornberry wrote to trade secretary Liz Truss on Tuesday to point out that unless these deals are concluded and published by 11 November, there will be insufficient Parliamentary time under the law for MPs to ratify them.
An analysis by The Independent has found that the missing deals – which also include accords with Turkey, Egypt and Algeria – could see tariffs and quotas imposed on £38bn of British exports and £41bn of imports, potentially causing havoc for some firms.
The hole accounts for 5.5 per cent of UK total trade and would represent a second blow to Britain’s terms of trade with the rest of the world, at the same time as it takes the hit of leaving the EU single market and customs union.
So much for the unbridled optimism of government ministers that trade deals would be easy.
The Independent reports that British businesses are facing disruption to as much as £80bn of global trade because of Boris Johnson’s failure to roll over 15 EU trade deals with other countries in time. Apparently, the government has just 50 days left to sign free-trade agreements with countries such as Mexico, Singapore and Canada to replace the ones it will otherwise lose access to on 31 December. And the deadline just got mved closer:
Adding to the atmosphere of crisis, the shadow international trade secretary, Emily Thornberry wrote to trade secretary Liz Truss on Tuesday to point out that unless these deals are concluded and published by 11 November, there will be insufficient Parliamentary time under the law for MPs to ratify them.
An analysis by The Independent has found that the missing deals – which also include accords with Turkey, Egypt and Algeria – could see tariffs and quotas imposed on £38bn of British exports and £41bn of imports, potentially causing havoc for some firms.
The hole accounts for 5.5 per cent of UK total trade and would represent a second blow to Britain’s terms of trade with the rest of the world, at the same time as it takes the hit of leaving the EU single market and customs union.
So much for the unbridled optimism of government ministers that trade deals would be easy.
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EU trade.Went to my local supermarket and notice one change in prices. A container of strawberries used to cost £2 (£3 for 2). Now one container is now £1.89 drop of price but NO offer in site for 2. Implication a price rise for 2 or better value for 1?
Previously the offer ones were from Scotland .The new container one from BELGIUM!
Question. Can Scotland not produce them in winter but Belgium can?
Is the price something to do with increased costs?
Are we due for more creative price increases with Brexit?
Lots to think about.
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Previously the offer ones were from Scotland .The new container one from BELGIUM!
Question. Can Scotland not produce them in winter but Belgium can?
Is the price something to do with increased costs?
Are we due for more creative price increases with Brexit?
Lots to think about.
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