WTO Rules

[Ian]

If the UK exits the EU without a deal, WTO rules will come in to place immediately. I had a quick look at this and the tariff for vehicle components is set at 10% plus admin charges.

[Diplomat]

That should hit all the owners of German luxury cars, then!

Frank

[teenmal]

Aw Naw give us strength.

[Flanners]

I reckon prices will rocket for most things; we import 70% of our foodstuffs.

[Katka]

"I reckon prices will rocket for most things; we import 70% of our foodstuffs"

2017 Defra figs say 30% of food stuff is EU sourced, 50% is UK , the balance from other countries. see www.gov.uk/government/publications/food ... -uk-supply.

I'm sure both figures are right depending on their basis but with Stats you have to be very very careful.

You might well be right about price rises, but as EU Common Agricultural Policy artificially inflates food prices for member states, UK should be able to buy at the same price or lower elsewhere. The problem lies in only EU-only products like French wine, if you won't drink New World wines, for instance. Arguably, therefore food may become cheaper.

The exchange rate will affect prices paid, but that has always been the case, and a fall of sterling may cause domestic production to start rising again. Which would be a positive on many fronts.

The bottom line is nobody knows what will happen in a couple of months, we can only try to be objective and not give in to partisan headlines or slogans..... unless tea imports are threatened in which case there'll be trouble!

[Flanners]

One thing is for sure Brexit is a complete and utter debacle. Regarding the new free trade agreements that Britain could make that currently stands at.....zero. No rush I guess after all we were meant to be out in 2 months time.

[Bob]

There is indeed an expression about a drinking session in a brewery.

[Katka]

Since Brexit hasn't happened it's rather early to judge. Maybe in a few years we will see what the outcome is. Certainly the behaviour of some in parliament leaves a lot to be desired, it is bringing the whole institution into disrepute.
As a member of the EU, the UK is not allowed to formally negotiate separate trade agreements, yet alone have them signed, so zero FTA's is hardly a surprise, and since we don't have them now by and large, why all the supposed disaster? Although rather old this is the latest EU list of trade agreements http://trade.ec.europa.eu/doclib/docs/2 ... pdf#page=6. No agreement with China, US, indeed most large trading countries. If no agreement is made with the EU then the WTO will be the default position (which works for nearly everyone else) until something is agreed. The WTO states the maximum tariffs that can be applied, they are not compulsorily imposed.
It should also be remembered that there are many other areas that voters will have considered at the time of the Referendum but are getting no comment. Border control, immigration, fishing rights, sovereignty, democracy etc. The exclusive focus on one area by the press is rather deceiving but sadly symptomatic of the shallowness of public debate on this and many subjects.

[helen&tony]

Hi
There is no WTO "default". Britain has to apply to trade under WTO rules. The "default" position is outside WTO. Only one country in the membership needs to veto Britain's membership, and already , we hear that several don't want to trade . It's the degree of dishonesty that's recently been shown by the government that signals this reticence. Tariffs are likely to be high all round
Cheers
Helen

[mikeonb4c]

My uncomprehending head is plunged deep in the sand. Tickle my arse with a feather (wot? I said particularly nasty weather) when its over and we can start replanting seeds in the world trade wasteland will you. The whole thing is like a plot out of a Tom Clancy novel only there's no Jack Ryan to stop it

[Flanners]

I look forward to a revisionist history of Brexit and it's socio-economic and political effects on the middle and lower classes in the UK prior to and post whatever is lashed together and revisiting some of the more optimistic comments above. It appears to me that even if you take away the sensationalist headlines and political soundbites the most we appear to be negotiating and aiming for is at best the current status-quo.

[g8dhe]

Can politicians stand accused of high treason ? It used to have the death penalty attached .... ah no politicians changed that back in 1998 it seems, they must have foreseen the consequences, probably the last good decision they made from there point of view ....

[Bob]

Mrs B saw a Spitfire over our village this morning so all should be well.

[mikeonb4c]

Hi
There is no WTO "default". Britain has to apply to trade under WTO rules. The "default" position is outside WTO. Only one country in the membership needs to veto Britain's membership, and already , we hear that several don't want to trade . It's the degree of dishonesty that's recently been shown by the government that signals this reticence. Tariffs are likely to be high all round
Cheers
Helen

Strange. Found myself half awake @ 5.30am this morning listening to Farming Today and they seemed to be saying that UK will trade under WTO rules if we crash out of EU? Confused I am. Putting head back in the sand now - you cant believe anything any(politician)one says

[mikeonb4c]

Mrs B saw a Spitfire over our village this morning so all should be well.

Thats the spirit Mrs B - just don't fly inverted as the Spit's old Merlin cant handle that whereas the Me109's Daimler Benz can (oh and he's got cannons against the Spits 303's) hey ho ha ha sob sob arrrrrggggghhhh