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16 November 207

Ilona Serwicka is Research Fellow in the Economics of Brexit at the UKTPO.

The European Chief Negotiator for Brexit, Michel Barnier, has recently confirmed that the UK will cease to be a member of the EU at midnight (Brussels time) on 29 March 2019. This means that we are now less than 500 days and under 350 working days away from the Brexit date. More time has already passed since the United Kingdom voted to leave the European Union on 23 June 2016. (more…)

November 16th, 2017

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image of Ilona2 November 2017

Ilona Serwicka is Research Fellow in the Economics of Brexit at the UKTPO.

As the United Kingdom is preparing to leave the European Union, Government policy is to seek a deep and comprehensive free trade agreement with the EU. But Brexit talks have not moved onto the trade issues yet and even if the future trade relationship is taken up in December, this gives little time and offers no guarantee that an agreement will be reached and ratified before 29 March 2019, the Brexit date. The Government has recently recognised the possibility that talks might break down and started to outline a ‘no deal’ vision of the UK-EU trade.

Our analysis reveals that unemployed households, those with children, and pensioners will all fare off worse than average in the case of a ‘no deal’. A new paper, Will Brexit Raise the Cost of Living? by Stephen Clarke, Ilona Serwicka and L. Alan Winters, and published by the National Institute Economic Review, looks at the impact that imposing Most Favoured Nation (MFN) tariffs on UK imports from the EU would have on the price of goods sold in the UK and the average cost of living. (more…)

November 2nd, 2017

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17 October 2017

Steve McGuire is Professor of Business and Public Policy and Head of the School of Business, Management and Economics at the University of Sussex. He is a Fellow of the UKTPO.

Bombardier has found an elegant solution to its trade problems with the United States: sell a controlling stake in the programme to a company with deeper pockets to defend itself – and with a US production base immune, by definition, from US tariffs. (more…)

October 17th, 2017

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17 October 2017

Lower-income households would be disproportionately affected should the UK revert to WTO tariffs

Exiting the EU without a trade deal and reverting to WTO ‘most-favoured nation’ (MFN) tariffs with the EU would lead to significant price rises across a range of goods, with low-income households facing the biggest cost pressures. This is according to a new joint-report published by the Resolution Foundation and the UK Trade Policy Observatory at the University of Sussex. (more…)

October 17th, 2017

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11 October 2017

One of the most critical issues for the Brexit negotiations in relation to trade is whether the UK should remain in the EU Single Market.  The Conservatives claim that the UK will no longer be members of its single market or its customs union by the end of a two-year transitional period, but at his party’s conference, Jeremy Corbyn said a Labour government would strike a deal with the EU that “guarantees unimpeded access to the single market” after Brexit.

We have produced a short, animated video that explains what the Single Market is, how it works and the ways it effects trade, and thereby the economy.  This includes the role of the European Court of Justice. Ultimately, the video explains that there is a trade-off between making your laws independently and cooperating sufficiently to be a part of a bigger market and achieve higher incomes.

October 11th, 2017

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Michael Gasiorek11 October 2017

Dr Michael Gasiorek is Senior Lecturer in Economics at the University of Sussex and Director and  Managing Director of InterAnalysis

Reading the Government’s White Paper on trade, and the Customs Bill on future customs arrangements, together with Monday’s statement from the Prime Minister seemed like a Groundhog day moment.  In other words, this is somewhere we have been before – repeatedly. (more…)

October 11th, 2017

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Erika Szyszczak6 October 2017

Professor Erika Szyszczak is a Research Professor in Law at the University of Sussex and a Fellow of UKTPO. She is currently the Special Adviser to the House of Lords Internal Market Sub-Committee in respect of its inquiry into Brexit: competition. She is the author of The Regulation of the State in Competitive Markets (Hart Pub. 2007)

State aid issues are highly politicised. And for good reasons. Taxpayers’ money is being used in a selective manner, without any democratic input into its effective use. Competitors, at home and abroad, feel aggrieved that a firm is either obtaining an unfair advantage or being bailed out, where it cannot compete on the market. But State aid may be necessary to combat unusual situations, such as environmental disasters, or financial crises, or to buy time to rescue and restructure in order to save jobs and a local economy. It may be needed on an ongoing basis to provide public services.  (more…)

October 6th, 2017

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27 September 2017

Steve McGuire is Professor of Business and Public Policy and Head of the School of Business, Management and Economics at the University of Sussex. He is a Fellow of the UKTPO.

As Bombardier is bombarded with a 220% tariff increase on exports to the US, the UK needs to wise up. There are two key points from the Boeing-Bombardier dispute that have implications for Brexit. First, leaving the European Union will not affect the sovereignty that national governments already have to dish out state aid for key industries. This will not change. Second, and this is the critical point, trade is bound up in broader political calculations. (more…)

September 27th, 2017

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Michael Gasiorek27 September 2017

Dr Peter Holmes Reader in Economics and Dr Michael Gasiorek is Senior Lecturer in Economics at the University of Sussex and Director and  Managing Director of InterAnalysis respectively. Both are Fellows of the UKTPO.

With respect to the post-Brexit period, the UK needs to sort out its trade relationships not just with the EU but also with non-EU countries. In regard to the EU, Mrs May’s stated objective is for an “implementation” period during which “access to one another’s markets should continue on current terms”,  such that “businesses and public services should only have to plan for one set of changes in the relationship between the UK and the EU”.  However, for this to be possible, the UK will also have to deal with the relationship with non-EU countries.  In this blog, we focus on an important aspect of Free Trade Agreements (FTA) which centres around something which is a bit technical and often not well understood – called “Rules of Origin” (RoOs).[1] (more…)

September 27th, 2017

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Erika SzyszczakImage of Alan Winters26 September 2017,

L. Alan Winters CB, Professor of Economics and Director of UKTPO. Dr Peter Holmes Reader in Economics at the University of Sussex and Fellow of the UKTPO, Erika Szyszczak is a Professor of Law at the University of Sussex, independent ADR Mediator and a Fellow of the UKTPO.

Now it’s official. More than a year after the UKTPO said that it would be necessary (see Briefing Paper 2 and NIER paper), the Prime Minister has announced that the UK wants a transitional deal that preserves the status quo. Namely, membership of the Single market, a customs union with the EU, free mobility of labour, jurisdiction of the Court of Justice of the European Union (CJEU), budget payments and no external trade deals. Sad to say, this seems like progress.

Despite the language and some of the press commentary, Britain is not ‘opting for’, still less ‘agreeing to’, a transitional deal; it is asking for one in the negotiations. The Florence speech still uses the language of an ‘implementation period’. This implies that between now and 2019 the UK can both negotiate a final settlement to be implemented after the transition and the transition itself.  But the Prime Minister has made no proposals about how to construct such a deal, other than that the UK leaves the EU on 29th March 2019, so that the transition requires agreement(s) between the EU (27 remaining members) and an independent UK. (more…)

September 26th, 2017

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