View Single Post
Old 14-09-2017, 13:00   #53
pip08456
Sad Doig Fan!
 
pip08456's Avatar
 
Join Date: Aug 2007
Location: Barry South Wales
Age: 67
Services: With VM for BB 250Mb service.(Deal)
Posts: 11,646
pip08456 has a nice shiny starpip08456 has a nice shiny star
pip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny starpip08456 has a nice shiny star
Re: Brexit discussion

Quote:
Originally Posted by Ignitionnet View Post
[url]
Actually let me ask peeps here - if we go WTO, which it looks like we will, the EU's tariffs kick in on our exports to them. What would people have us do in response?
Although I studied economics at school I am far removed from being an economist. Statistics can be used to "prove" any POV without context. Once context is entered into the equation conclusions and forecasts tend to change.

Remainers keep harping on about the service industry and how vital it is to the UK economy. I do not deny there's money to be made there but now let's put it into context.

Goods and services exports to the EU only account to 12-15% of the UK's export market. Even that figure is skewed by any exports via ports such as Rotterdam which then become part of EU export figures not the UK's.

Quote:
The £240 billion exports of goods and services to other EU countries were worth about 12% of the value of the British economy in 2016. It’s been at around 12-15% over the past decade.
As to any tariffs the EU imposes if we go WTO agreements I would do nothing in response.

There is a fallacy that tariffs cost businesses billions, they don't. There is only one person who pays the tariff and that is the end consumer.

If the goods and services that this country exports are superior to any other product then the end user will pay for them, this will push innovation and development in this country to be better than anyone else.

As regards a "tit for tat" response to tariffs and the need to do nothing, this can only lead to reduced prices for the consumer.

See, I can put forward a reasoned contribution to a debate.

Before I forget, the LINK where I got the total export figures from.
pip08456 is offline