Brexit Will Cost EU €3 Billion in Lost Tariffs

While everyone is discussing the Customs Union it gives EuroGuido a chance to highlight the tariff costs of staying in the protectionist bloc that liberal remainers pretend is a “free trade” area. The EU claims as its so-called ‘own resources’ customs duties and sugar levies. Member countries keep 20% of the customs duties raised in each member country to cover the cost of collection and the other 80% is sent is to Brussels. British consumers pay over £3 billion-a-year of the €20 billion total (give or take the odd billion). That works out at nearly a €1-a-week from every man and woman and child in the EU. This burden will rise when Britain leaves and the citizens still trapped in the EU will have to make up the shortfall to keep eurocrats counting their tax-free salaries and pension pots from the comfort of their chauffeur-driven limos…

If post-Brexit Britain abolishes the customs duties that were sent to Brussels it will mean some €4 billion-a-year off household bills. You can see why the EC opposes real free trade and cutting import tariffs – if they lost the revenue from tariffs they would have no budget to spend on themselves. Treble billions all gone!




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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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