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Originally Posted by TheDaddy
It looked to me as though in the days after the referendum Carney was the only person in high office who wasn't sat there wide eyed like a rabbit in the headlights, I remember seeing headlines in papers like the express that he saved 250 000 jobs in the immediate aftermath whilst the only jobs Dave and Gideon were concerned about were there own.
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Spot on. Cameron was frozen with fear. BoJo looked aghast at having won. Farage was busy quaffing champagne.
Meanwhile, Carney took decisive action and steadied the economy.
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HMRC: Max Fac would cost British businesses £17bn-£20bn a year! Customs union looks more likely
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Business will face extra bureaucracy costing up to £20bn a year if Britain opts for the “max fac” customs deal with the EU favoured by Brexiters, the head of HM Revenue & Customs has claimed.
In a dramatic intervention in the fraught Brexit debate, Jon Thompson said the extra form-filling facing British and foreign companies as they crossed a proposed “streamlined” customs border could cost between £17bn-£20bn, around twice the size of Britain’s net annual contribution to the EU budget.
Mr Thompson’s claim was explosive, since it appeared to destroy the case advanced by pro-Brexit ministers like Boris Johnson and Michael Gove in favour of a light-touch customs border — known as “maximum facilitation” — relying on technology and trusted trader schemes.
Mr Thompson’s claim will strengthen Theresa May’s attempt to pursue an alternative hybrid “customs partnership” plan, that would see Britain remain part of the EU customs area and collect tariffs on behalf of Brussels.
But that scheme, which would involve complex tracking of goods to see if they had ended up in Britain or the EU, has been dismissed as “magical thinking” in Brussels. Pressure is mounting on Mrs May simply to stay in a customs union.
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https://www.ft.com/content/fbdc5d58-...4-2218e7146b04
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Mr Thompson said there were about 200 million exports to the EU each year that could require customs declarations - and a similar number of imports.
Citing research by the University of Nottingham business school and by KPMG, he said the likely cost of individual declarations was between £20 and £55 - and while an average could not be authoritatively calculated, ministers had been advised a figure of £32.50 was plausible.
Payments on either side of the border could cost £13bn a year in total while it was "reasonable" to assume any rules of origin requirements demanded by the EU could add "several billion pounds"...
The figure is higher than the £13bn UK contribution to the EU in 2016.
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http://www.bbc.co.uk/news/uk-politics-44229606