Cable Forum - Britain outside the EU

Johnson overselling benefits of post-Brexit trade deals, say MPs

Critical report points to shortcomings and large concessions in accord with Australia

Boris Johnson’s much-lauded trade deal with Australia will cut the price of an imported bottle of a wine only by “a couple of pence”, according to a critical report by MPs, which urged the prime minister not to oversell the benefits of such agreements.

The international trade select committee said on Wednesday that while tariff reductions on processed food and drink could benefit consumers, they were unlikely to make a “noticeable difference” at supermarket checkouts.

Meanwhile, the deal would allow tariff-free food from Australia to be sold into Britain without meeting core UK food production standards related, for example, to pesticide use.

Johnson hailed the agreement with Canberra in June 2021 as the UK’s first big post-Brexit trade deal, with greater freedoms for Britons to work and travel in Australia and various tariffs cut on a range of goods.

But the trade committee called for a full assessment of winners and losers across all economic sectors and nations of the UK from trade deals, highlighting the concerns of British farmers about a lack of protections in some agreements.

https://www.ft.com/content/86a76122-...d-003e39ba50b4

OLD BOY

06-07-2022 07:55

Re: Britain outside the EU

Quote:

Originally Posted by 1andrew1 (Post 36127185)

Surely not!

https://www.ft.com/content/86a76122-...d-003e39ba50b4

I don't think this is typical of future deals that will be done with other countries, though. Although not a 'rollover' deal, it was modest in nature and didn't include services, which I think is the area where we can make a real difference. The main purpose of the Australia deal was to enhance our chances of joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

1andrew1

13-07-2022 11:52

Re: Britain outside the EU

Interesting to see some real-life case studies coming through.

Something in this to support what Leave and Remain sides said.

Leave advocates will see evidence that no more EU workers means a rise in wages and therefore some workers are better off.

Remain advocates will see a key advocate of Brexit become loss-making as a result of Brexit, so fulfilling some of the negative projections of Brexit.

Quote:

Wetherspoons warns of £30mn full-year loss driven by rising staff costs

JD Wetherspoon warned it was likely to fall to a “higher than expected” full-year loss of about £30mn, driven largely by increasing labour costs.

The 860-site pub chain said its sales were back to 2019 levels but “labour costs are far higher”.

Staffing shortages have stymied the recovery for the wider hospitality sector. Around one in seven hospitality jobs are currently unfilled, suppressing revenues across the industry by about 16 per cent, according to a separate report published on Wednesday by the industry body UKHospitality.

Wetherspoons pointed to how it had “invested heavily in labour, repairs and marketing” following the end of Covid-19 restrictions in February.

The company had forecast in a trading statement in May that it would break even this year. But on Wednesday it said it now expected to fall to a loss of £30mn for the financial year.

https://www.ft.com/content/3a58c426-...d-442b6ac59216

nomadking

13-07-2022 14:30

Re: Britain outside the EU

Quote:

Originally Posted by 1andrew1 (Post 36128154)

If so many EU citizens left after Brexit, how come over 5m of them are claiming UK settled status?
A year ago.

Quote:

According to provisional Home Office figures to the end of May, 5,605,800 applications have been received since the scheme opened in March 2019 and 5,271,300 have been finalised.

The countries whose nationals have made the highest numbers of applications are Poland (975,000) and Romania (918,000).

TheDaddy

13-07-2022 14:34

Re: Britain outside the EU

Quote:

Originally Posted by nomadking (Post 36128162)

If so many EU citizens left after Brexit, how come over 5m of them are claiming UK settled status?
A year ago.

Exactly, stop moaning Tim, you knew what you were voting for

ianch99

13-07-2022 15:07

Re: Britain outside the EU

The essential truth about Brexit:

https://pbs.twimg.com/media/FXiFn72X...g&name=900x900

Sephiroth

13-07-2022 15:25

Re: Britain outside the EU

Brexit is about sovereignty and forging our own path without orders from Brussels. There’s a whole world over the horizon and business will get there.

Mad Max

13-07-2022 16:05

Re: Britain outside the EU

Quote:

Originally Posted by ianch99 (Post 36128166)

The essential truth about Brexit:

[img]Download Failed (1)[/img]

Bless.

nomadking

13-07-2022 16:28

Re: Britain outside the EU

So when did the US, Germany, France, Spain, Poland, and others, leave the EU? They ALL have shortages of workers.

1andrew1

13-07-2022 16:40

Re: Britain outside the EU

Quote:

Originally Posted by nomadking (Post 36128162)

If so many EU citizens left after Brexit, how come over 5m of them are claiming UK settled status?
A year ago.

No one said they did.

pip08456

13-07-2022 19:03

Re: Britain outside the EU

Quote:

Originally Posted by nomadking (Post 36128181)

So when did the US, Germany, France, Spain, Poland, and others, leave the EU? They ALL have shortages of workers.

I didn't realise the US was ever in the EU.

You learn something every day!:D:D:D

OLD BOY

18-07-2022 11:09

Re: Britain outside the EU

Quote:

Originally Posted by 1andrew1 (Post 36128154)

Brexit was designed to create a temporary shortage of unskilled labour in order to push up wages. This shows that the policy is working.

In the end, employers will have to offer decent training and decent wages to workers in order to fill their vacancies, and we will get to a point of equilibrium. That was always part of the Brexit plan.

GrimUpNorth

18-07-2022 12:52

Re: Britain outside the EU

Quote:

Originally Posted by OLD BOY (Post 36128654)

So when are the Government going to increase the funding of public services so they can afford to push up wages?

jonbxx

18-07-2022 12:53

Re: Britain outside the EU

Quote:

Originally Posted by OLD BOY (Post 36128654)

Interesting. Labour shortages are generally inflationary as the costs of goods increases to compensate for higher wages. If productivity does not increase in line with wages, then the value of the pound will drop against other currencies.

Of particular concern is the dollar as this is what we buy our energy with. If energy becomes more expensive, then costs rise, creating inflation, fuelling wage rises, dropping the value of the pound and so on. Labour shortages are really bad for economies - brace for impact

OLD BOY

18-07-2022 14:13

Re: Britain outside the EU

Quote:

Originally Posted by GrimUpNorth (Post 36128672)

So when are the Government going to increase the funding of public services so they can afford to push up wages?

Why increase funding when it needs pruning?

If the size of the public sector is reduced substantially, those remaining can have a pay rise based on increased productivity, just like the railway workers could, and some of that money could be returned to the taxpayer.

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