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Re: Brexit
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Originally Posted by heero_yuy
We don't have to back to the EU for a trade deal. We can trade on WTO rules. That £39bn is better spent on our people than pissed up against the EU wall.
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We can only trade on WTO rules if none of the other countries have any objections - so far, a number have objected, and anyway, WTO rules don’t cover services – 70% of the UK economy is services.
https://www.theneweuropean.co.uk/top...luck-1-6094529
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the UK must produce its own schedule covering both services and each of the 5,000-plus product lines covered in the WTO agreement and get it agreed by all the 163 WTO states in the remaining parliamentary sitting days until October 31. A number of states have already raised objections to the UK's draft schedule: 20 over goods and three over services.
The second hurdle is the sheer volume of domestic legislation that would need to be passed before being able to trade under WTO rules: there are nine statutes and 600 statutory instruments that would need to be adopted.
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https://www.washingtonpost.com/busin...=.3e56652974b3
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So could Article 24 be invoked?
Liam Fox, the U.K. trade secretary, has already rejected the approach, saying he didn’t think it could apply since the U.K. and the EU haven’t already agreed to a trade accord. WTO Director-General Roberto Azevedo confirmed that there must be a bilateral agreement between the EU and U.K. in order to claim an implementation period under GATT Article 24. “Once they have an agreement I think Article 24 could give them some time for implementation of that agreement,” he told Bloomberg. “But the first question is the agreement itself.”
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Last edited by Hugh; 16-06-2019 at 19:54.
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