19 April 2017
L. Alan Winters CB, Professor of Economics and Director of UKTPO.
Economists for Free Trade’s Patrick Minford recently suggested that the UK should
simply eliminate our tariffs on them [the EU], and by implication – under WTO rules – on everyone else. By doing so, we would achieve free trade for our consumers with one quick move [and increase consumer welfare by 4%] Minford (2017).
This, he explains in a fuller exposition, is achievable ‘via Unilateral Free Trade’ – see page 8 of Minford and Miller (2017), henceforth referred to as M&M.
But this claim is misleading or worse:
Charlotte Humma April 19th, 2017
Posted In: UK- EU
Tags: Brexit, FTA, Negotiations, tariffs, WTO
2 February 2017
Dr Michael Gasiorek, senior Lecturer in Economics, Managing Director of InterAnalysis, and member of UKTPO responds to the United Kingdom’s exit from and new partnership with the European Union White Paper.
My top line response to the White Paper is that it is full of wishes and hopes, but there is very little specific detail in there. No doubt this is in part because the government would argue that it does not want to give too much away so as to strengthen their hand in the negotiations, but also because some of the problems are somewhat intractable, (eg. CTA and Ireland) and finally, because the government probably does not yet know itself.
Specifically, on trade, there really is almost nothing new in the White Paper. One can exegetically examine the wording to see if there are any new insights but these are hard to find. I thought it was interesting how much work had gone into discussing dispute resolution, and wonder whether it suggests any view regarding the likelihood of future disputes? (more…)
Charlotte Humma February 2nd, 2017
Posted In: UK- EU
26 January 2017
Erika Szyszczak is a Professor of Law at the University of Sussex, Barrister and ADR Mediator at Littleton Chambers, Temple and a Fellow of theUKTPO.
It is a monumental decision for a Member State to leave the European Union, not least when it will have a major impact on the economic, political and social future, not only of the exiting Member State, but also of the global trading regime. It is thus befitting that on 24 January 2017 the Supreme Court came of age by delivering one of its most important rulings, on the nature and future shape of the UK constitution. What started as a case concerning acquired rights became a wider ranging analysis of the role of the executive vis-a-vis Parliament. As befits a monumental constitutional decision, taking place in the digital age, the responses to the ruling have been prolific and focused upon the constitutional dimension to the litigation. (more…)
Charlotte Humma January 26th, 2017
Posted In: UK- EU
16 January 2017
Guest blog by Katie Doherty, Policy and Operations Manager at The International Meat Trade Association
Though a significant challenge, Brexit presents an opportunity for the UK to devise its own import quota system. The current EU Tariff-rate Quote (TRQ) system is out of date and does not reflect the modern trade. For example, there are many frozen meat quotas that, as technology has developed, would be better suited as chilled meat quotas. Additionally, due to the exceedingly high EU MFN tariffs, it is generally not economically viable to import into the EU unless under a Tariff Rate Quota. (more…)
Charlotte Humma January 16th, 2017
Posted In: UK - Non EU, UK- EU
21 December 2016
Alasdair Smith is an Emeritus Professor of Economics at the University of Sussex, and is a member of the UK Trade Policy Observatory.
In ‘Scotland’s place in Europe‘, published on 20 December, the Scottish Government affirms its wish that the whole UK should remain in the European single market and the EU customs union. If, however, the UK leaves the customs union and is ejected from the single market, the Scottish government wants Scotland to remain in the single market.
Commentators, by no means all of them instinctively unsympathetic to the Scottish Government’s case, have noted that the creation of a regulatory border between England and Scotland could be problematic. But the problems would not all be on the Scottish side. (more…)
Charlotte Humma December 21st, 2016
Posted In: UK- EU
20 December 2016
In the season of goodwill, let’s not forget our responsibilities to developing countries when we leave the EU.
Rorden Wilkinson is Professor of International Relations and a fellow of the UK Trade Policy Observatory
A great deal of the Brexit debate has focused on the possible shape of the UK’s trade architecture after 2019. It has, however, largely ignored how others—particularly developing countries—see or will be affected by the UK’s departure from the European Union (EU). I think this is to our peril and we should, with some urgency, turn our attention to thinking about the future of our relationship with the developing world. But we need to do so remembering to shoulder our responsibilities to weaker and poorer countries, extending ‘goodwill’ to all. (more…)
Charlotte Humma December 20th, 2016
Posted In: UK - Non EU
16 December 2016
The United Kingdom may opt to leave the EU Emissions Trading System (ETS) for greenhouse gases. If so, a central plank of UK climate policy will need to be replaced at short notice. The UK is a large importer of emission permits, and meeting its climate policy targets would be much harder and dearer without the EU ETS. The impact on the EU would be limited, although UK permits circulating in the rest of the EU would lose their legal standing between Brexit and 2021. Non-EU countries take part in the EU ETS, and this appears to be the best option for the UK post-Brexit.
Richard Tol is Professor of Economics at the University of Sussex. (more…)
Charlotte Humma December 20th, 2016
Posted In: UK- EU
14 December 2016
With exports of services worth £220 billion to the UK economy, we need to make sure that Brexit discussions don’t ignore this vital component of the UK’s trading environment.
Dr Ingo Borchert is Lecturer in Economics and a fellow of the UK Trade Policy Observatory. (more…)
Charlotte Humma December 14th, 2016
Posted In: UK- EU
Tags: Car Industry, Financial Services, Services, Single Market
16 November 2016
At the end of last month, Nissan confirmed a major investment in its Sunderland site following support and assurances from Teresa May. This news was received with much speculation as to what the “support and assurances” of the British government could be.
Whilst the details are yet to emerge from Number 10, Dr Peter Holmes reveals different options of what a special post-Brexit deal for Nissan, and the car industry generally, could be. (more…)
Charlotte Humma November 16th, 2016
Posted In: UK- EU
Tags: Car Industry, Nissan, Sectoral Deals
9 November 2016
L. Alan Winters, Professor of Economics and Director of UKTPO.
Donald Trump viewed Brexit as a great victory. He also said that the UK would not be at the back of the line for trade deals – perhaps because there would be no line! But where does Trump’s victory leave the overall strategy of Brexit? It makes keeping good access to the EU market – some form of soft Brexit – even more important than it was previously. (more…)
Charlotte Humma November 9th, 2016
Posted In: UK - Non EU
Tags: Protectionism, USA
