No Deal Brexit + Slashing Tariffs = Reduced Prices

The top line of this morning’s Resolution Foundation report is that lower income households would be stung in the event of a No Deal Brexit should we revert to WTO tariffs. This is a false premise: in a No Deal scenario it is far more likely that the government would unilaterally cut or decline to impose tariffs. Ministers have repeatedly privately said they would propose a policy of unilateral tariff reduction – or even unilateral free trade with tariffs set at zero – in the event of No Deal. The Resolution Foundation looked at this scenario too and found that in a No Deal Brexit where the UK slashed tariffs household spending would be reduced by £130 a year. Look at all those cheaper prices above…

Of course this finding is nowhere to be found in the headlines of the Remainstream media, despite being the far more likely outcome in the event of No Deal. There you have it from a centrist think tank: No Deal means cheaper prices. Brexit is about breaking free into global markets, not putting up protectionist barriers to trade…




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Quote of the Day

Dominic Raab wrote in his letter of resignation…

“This is, at its heart, a matter of public trust,” he told the PM, concluding: “I cannot reconcile the terms of the proposed deal with the promises we made to the country in our manifesto at the last election… I believe that the regulatory regime proposed for Northern Ireland presents a very real threat to the integrity of the United Kingdom. I cannot support an indefinite backstop arrangement, where the EU holds a veto over our ability to exit…”

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