What to expect from a no-deal Brexit
economist.com
What to expect from a no-deal Brexit
1–10 of 112 posts
Re: What to expect from a no-deal Brexit
#2Some Brexiteers favour a radical response: get rid of all tariffs on imports, as Hong Kong, Macao and Singapore have done. Extravagant assumptions about the benefits of this explain why some pro-Brexit economists see no deal as much less damaging than most of their colleagues. But tariff abolition would have huge effects on agriculture and some types of manufacturing. The government has no plans for such an extirpation.
Followed by no examination of the experience of Hong Kong, Macao, and Singapore. Instead bemoans the "huge effects" on protected industries.
One could be forgiven for making the mistake of assuming that a magazine called The Economist would understand the benefits of free trade beyond the EU and the harms of corporate welfare.
Re: What to expect from a no-deal Brexit
#3So, why do it? Should a razor thin majority in a public vote 2 years ago decide the UK's policy forever?
Re: What to expect from a no-deal Brexit
#4So, why do it? Should a razor thin majority in a public vote 2 years ago decide the UK's policy forever?
With an enormous influence campaign by a hostile power, too.
Re: What to expect from a no-deal Brexit
#5Well, I'm kind of expecting that the no-deal scenario will actually happen. Then a big economic crisis will follow, making it palatable for politicians to actually endorse a new referendum. I'm not saying what the question in such referendum would be, though.
And actually, this is the reason why some remainers are voting no to the brexit deal, and it's not even a secret.
Re: What to expect from a no-deal Brexit
#6So, why do it? Should a razor thin majority in a public vote 2 years ago decide the UK's policy forever?
What do you propose? A razor thin minority in a public vote 2 years ago decide the UK's policy forever?
Re: What to expect from a no-deal Brexit
#7Some Brexiteers favour a radical response: get rid of all tariffs on imports, as Hong Kong, Macao and Singapore have done. Extravagant assumptions about the benefits of this explain why some pro-Brexit economists see no deal as much less damaging than most of their colleagues. But tariff abolition would have huge effects on agriculture and some types of manufacturing. The government has no plans for such an extirpati…
How's the farming community doing in Hong Kong, Macao, and Singapore?
Re: What to expect from a no-deal Brexit
#8So, why do it? Should a razor thin majority in a public vote 2 years ago decide the UK's policy forever?
Apparently, yes.
Re: What to expect from a no-deal Brexit
#9Some Brexiteers favour a radical response: get rid of all tariffs on imports, as Hong Kong, Macao and Singapore have done. Extravagant assumptions about the benefits of this explain why some pro-Brexit economists see no deal as much less damaging than most of their colleagues. But tariff abolition would have huge effects on agriculture and some types of manufacturing. The government has no plans for such an extirpati…
How's the farming community doing in Hong Kong, Macao, and Singapore?
Imposing tariffs on imports is classic protectionism - are you actually arguing that that is a net benefit?
Of course the protected industries benefit from protectionism, the argument against protectionism is that everyone else loses.
There is no reason that a transaction with a counterparty in Shanghai should incur any more taxes than an equivalent transaction with a counterparty in Manchester.
Re: What to expect from a no-deal Brexit
#10Well, I'm kind of expecting that the no-deal scenario will actually happen. Then a big economic crisis will follow, making it palatable for politicians to actually endorse a new referendum. I'm not saying what the question in such referendum would be, though. And actually, this is the reason why some remainers are voting no to the brexit deal, and it's not even a secret.
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