Wednesday, 4 July 2018

Maybe Richard Harrington doesn't know this?

"Only 8% of UK businesses export to the EU. These exports represent just 13% of the economy. In fact, 17% of the economy is related to exports to the rest of the world and 70% is domestic. Even a so-called ‘hard’ Brexit – which is actually global trade on World Trade Organisation (WTO) terms – would have only a marginal (if any) impact on exports to the EU, while it would considerably boost the 87% of the economy not related to the EU."

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1 comment:

  1. As a "small business", I have traded globally for 20 of the past 25 years. However I gave up dealing with EU countries about 12 years ago because the bureaucracy was too much; just trying to work out VAT rates and reporting wiped out any profit. I continued trading with the USA, Australia, Switzerland, South Africa etc, even exporting IT skills to India. From my business' perspective, a no-deal with the EU (putting it on a level playing field with the rest of the world) would open up a big marketplace for me.