Many diehard Remainers are still claiming that UK exports to the EU have been permanently crippled by Brexit, and that UK imports will fall further. But the evidence is stacking up against them. Admittedly, the widely expected decision to delay the full introduction of UK border checks might suggest that there is worse to come. The Government … Continue reading What’s the real story on UK-EU trade?
Many people raised concerns about the patchy coverage of services in the Brexit deal negotiated between the UK and EU, known as the Trade and Cooperation Agreement (TCA). The gaps have already caused some significant problems, especially for smaller firms. In principle, the TCA offered extensive market access for UK services businesses, including the mutual … Continue reading Brexit Britain’s resilient services sector is proving the gloomsters wrong
The Government is delivering on another Brexit pledge. Kwasi Kwarteng’s Department for Business, Energy and Industrial Strategy has unveiled a new subsidy framework which takes back control from Brussels. The UK will break free from the EU’s bureaucratic state aid regime, allowing our government to provide quicker and more flexible support to UK businesses. That, at … Continue reading State aid remains a slippery slope
The UK government promotes international trade under the banner ‘Exporting is GREAT’. This is laudable, but the economic benefits of free trade come mainly from what countries import, rather than from what they sell overseas. This is the main message from a paper I wrote recently for the Institute of Economic Affairs. Of course, it is not … Continue reading Importing is “GREAT”, too