sgtkate Posted February 9, 2017 Share Posted February 9, 2017 https://www.theguardian.com/business/2016/may/25/wto-eu-uk-consumers-trade-deals The watchdog for global trade has said leaving the European Union would push back trade barriers at a cost of £9bn a year to British consumers. World Trade Organisation boss, Roberto Azevedo, said Britain would be forced to renegotiate trade deals with all 161 WTO members in an unprecedented move that would be akin to joining from scratch. The impact of new tariffs in overseas markets would also be a burden for UK businesses, adding a further £5.5bn to the costs of trade, he said. “The consumer in the UK will have to pay those duties,” Azevedo said. “The UK is not in a position to decide ‘I’m not charging duties here’. That is impossible. That is illegal.” His comments came as ratings agency Standard & Poor’s said sterling’s status as a reserve currency would be jeopardised by a decision to quit the EU as central banks around the world would sell their holdings in favour of more secure currencies. S&P said countries with a reserve currency earned considerable income from heavy trading on foreign exchange markets and enjoyed lower interest charges on overseas debt. “A departure from the EU could put sterling’s reserve status at risk by deterring foreign direct investment and other capital inflows into the UK,” it said, adding that because last year’s current account deficit was the world’s second-highest, any decline in capital inflows would weaken the pound and hit GDP growth. Stop it with Project Fear will you? Noone needs facts around here. Link to comment Share on other sites More sharing options...
unbeliever Posted February 9, 2017 Author Share Posted February 9, 2017 (edited) https://www.theguardian.com/business/2016/may/25/wto-eu-uk-consumers-trade-deals The watchdog for global trade has said leaving the European Union would push back trade barriers at a cost of £9bn a year to British consumers. World Trade Organisation boss, Roberto Azevedo, said Britain would be forced to renegotiate trade deals with all 161 WTO members in an unprecedented move that would be akin to joining from scratch. The impact of new tariffs in overseas markets would also be a burden for UK businesses, adding a further £5.5bn to the costs of trade, he said. “The consumer in the UK will have to pay those duties,” Azevedo said. “The UK is not in a position to decide ‘I’m not charging duties here’. That is impossible. That is illegal.” His comments came as ratings agency Standard & Poor’s said sterling’s status as a reserve currency would be jeopardised by a decision to quit the EU as central banks around the world would sell their holdings in favour of more secure currencies. S&P said countries with a reserve currency earned considerable income from heavy trading on foreign exchange markets and enjoyed lower interest charges on overseas debt. “A departure from the EU could put sterling’s reserve status at risk by deterring foreign direct investment and other capital inflows into the UK,” it said, adding that because last year’s current account deficit was the world’s second-highest, any decline in capital inflows would weaken the pound and hit GDP growth. Oh look. Here's the same guy (not filtered through the Guardian), saying it will all go smoothly and we needn't worry: http://www.cityam.com/252313/brexit-fast-and-smooth-says-wto-boss-roberto-azevedo- In other news. Bodies and chassis for top-end supercars are now to be made by McLaren at AMRC in Sheffield. At least 200 jobs right there. https://www.theguardian.com/business/2017/feb/08/mclaren-automotive-manufacturing-plant-sheffield-200-jobs Edited February 9, 2017 by unbeliever Link to comment Share on other sites More sharing options...
sgtkate Posted February 9, 2017 Share Posted February 9, 2017 Oh look. Here's the same guy (not filtered through the Guardian), saying it will all go smoothly and we needn't worry: http://www.cityam.com/252313/brexit-fast-and-smooth-says-wto-boss-roberto-azevedo- In other news. Bodies and chassis for top-end supercars are now to be made by McLaren at AMRC in Sheffield. At least 200 jobs right there. https://www.theguardian.com/business/2017/feb/08/mclaren-automotive-manufacturing-plant-sheffield-200-jobs Smoothly and not without cost are not the same thing. I can smoothly hand you over millions if we agree... Also a McClaren is hardly going to be affected by tariffs. If you can afford a £600k supercar then you can afford a £660k super car. You've just confirmed Loobs exact point... Link to comment Share on other sites More sharing options...
unbeliever Posted February 9, 2017 Author Share Posted February 9, 2017 Smoothly and not without cost are not the same thing. I can smoothly hand you over millions if we agree... Also a McClaren is hardly going to be affected by tariffs. If you can afford a £600k supercar then you can afford a £660k super car. You've just confirmed Loobs exact point... They're parts. They have to be shipped back out again for assembling into final cars. This would affect the cost of all McLarens sold, not just in the UK. This is exactly the kind of activity that Brexit would supposedly cost us. Link to comment Share on other sites More sharing options...
Cyclone Posted February 9, 2017 Share Posted February 9, 2017 In other news. Bodies and chassis for top-end supercars are now to be made by McLaren at AMRC in Sheffield. At least 200 jobs right there. https://www.theguardian.com/business/2017/feb/08/mclaren-automotive-manufacturing-plant-sheffield-200-jobs Where were they made previously? ---------- Post added 09-02-2017 at 09:43 ---------- They're parts. They have to be shipped back out again for assembling into final cars. This would affect the cost of all McLarens sold, not just in the UK. This is exactly the kind of activity that Brexit would supposedly cost us. Back out to where, Surrey? Link to comment Share on other sites More sharing options...
chalga Posted February 9, 2017 Share Posted February 9, 2017 Oh look. Here's the same guy (not filtered through the Guardian), saying it will all go smoothly and we needn't worry: http://www.cityam.com/252313/brexit-fast-and-smooth-says-wto-boss-roberto-azevedo- In other news. Bodies and chassis for top-end supercars are now to be made by McLaren at AMRC in Sheffield. At least 200 jobs right there. https://www.theguardian.com/business/2017/feb/08/mclaren-automotive-manufacturing-plant-sheffield-200-jobs So,if he's not talking to The Guardian,everything he said to them magically means something completely different? Link to comment Share on other sites More sharing options...
L00b Posted February 9, 2017 Share Posted February 9, 2017 In other news. Bodies and chassis for top-end supercars are now to be made by McLaren at AMRC in Sheffield. At least 200 jobs right there. https://www.theguardian.com/business/2017/feb/08/mclaren-automotive-manufacturing-plant-sheffield-200-jobs I'll see your 200 Sheffield £40k-£60k jobs, and raise you a few x,000s of City £250k+ jobs [and since we're back to predictions...we could be talking about e.g. Sunderland jobs in due course as well as the City jobs ] Good news for Sheffield, sure. But inconsequential in the national context for a few years yet. Link to comment Share on other sites More sharing options...
Flexo Posted February 9, 2017 Share Posted February 9, 2017 Oh look. Here's the same guy (not filtered through the Guardian), saying it will all go smoothly and we needn't worry: http://www.cityam.com/252313/brexit-fast-and-smooth-says-wto-boss-roberto-azevedo- Same guy.... different subject. I guess that, by pivoting to a different subject, we've settled the point about tariffs costing UK consumers a lot more than those in Europe. ---------- Post added 09-02-2017 at 09:49 ---------- So,if he's not talking to The Guardian,everything he said to them magically means something completely different? It's a different topic. The article doesn't say he's changed his mind. Link to comment Share on other sites More sharing options...
sgtkate Posted February 9, 2017 Share Posted February 9, 2017 They're parts. They have to be shipped back out again for assembling into final cars. This would affect the cost of all McLarens sold, not just in the UK. This is exactly the kind of activity that Brexit would supposedly cost us. What? As I said, someone isn't going to care if their £600k car costs £660k are they? It's not like price is a major factor in the desirability of a McClaren. Add 10% onto a Nissan Micra and it's a completely different scenario. My and Loobs point stands. Link to comment Share on other sites More sharing options...
Flexo Posted February 9, 2017 Share Posted February 9, 2017 Back out to where, Surrey? Yes, Woking. There is a petition for London to stay in the EU so perhaps unbeliever thinks there will be a customs border somewhere near the Watford Gap. Link to comment Share on other sites More sharing options...
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