Mastercard to raise fees for UK customers buying from EU because of Brexit

Thrugelmir

phillw said:

Thrugelmir said:
The tax revenue collected goes to fund UK institutions such as the NHS. 

Which is good, because the NHS funding just lost all the VAT on exports to the EU.
So it's pretty much a zero sum game, but one where UK consumers and businesses are worse off because of the cost of the extra red tape now that we've left the EU.

Far from being a zero sum game. 

phillw

Thrugelmir said:
Far from being a zero sum game. 

While we do import slightly more than we export, the increased costs of importing supplies for the NHS will make up for it.

Elmer_BeFuddled

epm-84 said:

Indeed.  I also think some people forget that blue does not appear a flag representing solely England, Wales or Northern Ireland.  It's one of three colours on the Union Jack with those 3 colours combined representing the UK.  If Scotland were to leave the UK it would make sense for the blue to be removed and for something from the Welsh flag to the added to the Union Jack, maybe the dragon, maybe the Welsh green to replace the Scottish blue?

But Wales isn't a country, it's a principality.
(Runs and hides behind wardrobe).

dazza.mk

phillw said:

Thrugelmir said:
The tax revenue collected goes to fund UK institutions such as the NHS. 

Which is good, because the NHS funding just lost all the VAT on exports to the EU.
It would be pretty much a zero sum game, except UK consumers and businesses are worse off because of the cost of the extra red tape now that we've left the EU.

Given that there was a zero rate of VAT payable normally when exporting to a VAT registered business in another EU member state (to avoid companies having to reclaim input VAT in all member states) what significant VAT on EU Exports are you referring to?