Business leaders plead against 'hard' Brexit


#1

bbc.co.uk/news/business-37592866

**Business leaders plead against ‘hard’ Brexit

A group of major business lobby groups have written an open letter urging the government to preserve barrier free trade with Europe.

The letter is signed by leaders of the CBI and manufacturers’ body the EEF.

It says the way in which the UK leaves the EU and on what terms is critical for jobs and investment in the UK.

It says defaulting to trading by World Trade Organisation (WTO) rules would leave 90% of UK goods trade with the EU subject to new tariffs.

The letter says that would mean 20% in extra costs for the UK’s food and drink industry and 10% for car producers**.

These significant costs would affect British exporters and importers, as well as those in their supply chains, it adds.

“Many areas of regulation now up for discussion are highly complicated… The government should therefore secure agreement of a transitional period, to ensure that businesses can continue to operate with no ‘cliff edge’ change to current circumstances until regulatory and legal changes can be implemented.”

**Last Sunday, the Prime Minister Theresa May said she would trigger Article 50, the clause needed to start the process of exiting the EU, by the end of March 2017.

The letter ends by saying that the UK voted to leave the EU but not to cause living standards to decline: “We want a Brexit that safeguards future prosperity for everyone across the UK.”**


#2

It may be that Britain’s increasing trade deficit is troubling to all but the ones who re-sell imported goods. Britain runs a deficit with all trading partners other than the U.S., Ireland and the UAE, and particularly in manufactured goods.

Quite possibly many Brits think Britain could do better by choosing its own trading partners, even if it means paying more for goods made in Britain.

It is no surprise, however, that some business leaders don’t like the idea. After all, many would be in the business of re-selling imported goods to Brits.


#3

From what I’ve heard, the main reason British businesses are anti-Brexit is because it would make exporting to the EU harder because they would have to manufacture to two different standards at the same time, which means that instead of a “Europe edition” and an “everything else edition”, they would need to make a “UK edition”, “Europe edition”, and “everything else edition”, which raises production costs, which raises final costs, which …

… yeah.

We’ll see what happens.


#4

The sadistic arrogance of the EU bosses in threatening retaliation against Britain shows us why British voters chose independence.


#5

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