If we vote for Brexit what happens

Herzlos

I was talking about it being a detriment to the UK; The EU can largely source things to avoid it.

Can anyone provide an example where it's of benefit to us to revert to WTO terms? Is there anything beyond being able to negotiate terms individually with non-EU countries?

mwpt

Thrugelmir wrote: »

I was hoping for something more material in response. What you describe is actually to the detriment of UK retailers and the UK Treasury. Importing CD's from German operated companies for example. Is neither here nor there. Not exactly a growth industry either.

What does that even mean, "detriment of UK retailers and the UK Treasury"? Could you elaborate on how you come to that conclusion showing some example figures. I'm inclined to think your statements above are biased nonsense but perhaps you can show otherwise.

I am the consumer, I would rather pay £10 for a CD imported from Germany than £20 for a CD manufactured here.

CLAPTON

Herzlos wrote: »

I was talking about it being a detriment to the UK; The EU can largely source things to avoid it.

Can anyone provide an example where it's of benefit to us to revert to WTO terms? Is there anything beyond being able to negotiate terms individually with non-EU countries?

you seem to think that trading with about 160 countries is of no importance

Herzlos

CLAPTON wrote: »

you seem to think that trading with about 160 countries is of no importance

But we already trade with those 160 countries, few of which have any direct trading routes to us?

I just value trading with our neighbors (especially those just across a ferry route or tunnel) over trade at the other side of the world. Just-In-Time stock management (a big thing for anyone who deals with inventory) is an awful lot easier with a 2 day turnaround than a 6+ week turnaround.

wotsthat

Herzlos wrote: »

Can anyone provide an example where it's of benefit to us to revert to WTO terms? Is there anything beyond being able to negotiate terms individually with non-EU countries?

Being able to negotiate terms with individual countries is a red herring.

That's a function of leaving the customs union. It's entirely possible that we can both negotiate terms with non-EU countries AND trade tariff free with the EU. Complicated and unlikely to be negotiated quickly but possible.

If anyone thinks free trade is good then any hindrance to trade is not so good. WTO terms would hinder trade to the detriment of the UK and the EU.

There will be some beneficiaries but overall the consumer will lose.

Herzlos

mwpt wrote: »

I am the consumer, I would rather pay £10 for a CD imported from Germany than £20 for a CD manufactured here.

Under WTO terms, that imported CD could easily run to £19 too (assuming £8 handling fee + 10% tariff), before you factor in exchange rates :j

Of course, by then the UK will probably cost closer to £25 for the same reasons.

CLAPTON

Herzlos wrote: »

Under WTO terms, that imported CD could easily run to £19 too (assuming £8 handling fee + 10% tariff), before you factor in exchange rates :j

Of course, by then the UK will probably cost closer to £25 for the same reasons.

it would seem to me that the Uk would determine whether there was a 10% tariff and the level of handing fee.
My understanding of economics says the the effects of the exchange rate happen whether within the EU or without.

mrginge

Herzlos wrote: »

Under WTO terms, that imported CD could easily run to £19 too (assuming £8 handling fee + 10% tariff), before you factor in exchange rates :j

Of course, by then the UK will probably cost closer to £25 for the same reasons.

Oh my god.

Every single item imported into this country will be at least £8 more expensive!!!!

So that means if I buy four items currently costing 50p each, after Brexit they will be AT LEAST THIRTY FOUR POUNDS!!!!!!

This is a disaster.

Herzlos

CLAPTON wrote: »

it would seem to me that the Uk would determine whether there was a 10% tariff and the level of handing fee.
My understanding of economics says the the effects of the exchange rate happen whether within the EU or without.

They would, and the handling fee already exists (I keep getting stung on US/Japan imports), so it's likely to remain.

All this extra bureaucracy would need to be paid for somewhere; even if it's 0% tariff with £0 handling fee, it'd need to be processed somewhere.

kabayiri

Interesting snippet last night on the This Week program.

They were discussing Merkel's recent commentary on reform to the FoM process; specifically the level of benefits the EU migrant should receive from the host country.

The belief is that this is aimed at providing French mainstream politicians with ammunition to fend off Marine Le Penn !!

It's not aimed at the UK at all.

So, Cameron goes with specific negotiations to the EU and gets very little. Yet, now we have Merkel trying to proactively reform something which is a red line to help French politics.

Weird times indeed.