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Old 07.10.2019, 17:12
Urs Max Urs Max is offline
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

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Yes, but for whom? Brits can expect price increases on a very wide range of goods and services, most of which will be blamed on Brexit. No doubt some of these claims will be accurate.
Which are they? From Next Plc's "Brexit planning document":
"The Government has announced a temporary tariff regime in the event of a no-deal Brexit. This temporary measure will ensure 87%1 of UK imports will be tariff free for up to 12 months following a no-deal Brexit."

Now, the question is of course what the remaining 13% are and what happens after those 12 months, but at any rate that doesn't imply lots price increase for the time being. For clothing retailers such as Next it actually means a reduction. That may well be the general case.

Just don't ask what that means for UK employers and employees. Especially given that, assuming the UK can keep indeed export under WTO rules in the first place despite the dozens of objections against May's proposition, the typical UK export will get 30% import tariff slashed on and financial passporting rights will probably no longer exist.
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