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Originally Posted by Damien
Trade isn't just about tariffs though it's about regulatory alignment, customs checks and, in the specific case of the EU, workers' ability to move back and forth. We know the problems in Dover for example. The amount of red tape and paperwork added to trade increases time and cost.
As an example remember the arguments we had on here about Just in Time manufacturing. That doesn't hold if there are delays moving parts in/out of Britain.
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Some of the hard Brexit approaches have added considerable costs to manufacturing with no benefits. In the short term, companies may absorb them but longer term, as we have seen, investment has fallen significantly which does not bode well.
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UK chemicals sector hit by £2bn Brexit red tape bill
New ‘UK Reach’ regime has pitted ministers against a broad swath of manufacturing
A government impact assessment, seen by the Financial Times, has put the central estimate for the costs of registering chemicals on a new UK database — often duplicating existing registrations with the EU — at £2bn.
The chemicals industry warned last year that the new regime — known as UK Reach — would cost about £1bn — but the government now accepts that many more substances will have to be registered than previously thought.
The British regime would be far more costly than the EU Reach system; UK companies spent £500mn complying with the Brussels regime over the previous decade, winning access to 27 markets.
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https://www.ft.com/content/f41e3350-...0-80d3a483ef8d