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The benefits of World Trade

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Offline the leveller

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The benefits of World Trade
« on: January 05, 2019, 04:10:55 PM »
Please read to inform yourself and then forward to as many as possible.    There really is no sane argument against a 'No-Deal, No Cost Brexit'.

This is well worth noting. Harangue your MP to vote down the Withdrawal Agreement.  This is of vital importance too, they are after all our employees!

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Benefits of a World Trade Brexit – Leave Means Leave
Seamless borders
· WTO’s Trade Facilitation Agreement: Aims to reduce the time taken for goods to clear customs checks. As a signatory, the EU commits to keep goods flowing with as little friction as possible. It represents a global commitment to keep the forward momentum on removing barriers to customs clearance through technology like Blockchain.
· WTO’s Agreement on Sanitary and Phytosanitary Measures: Dealing with food related products, countries are unable to apply checks that are not based on scientific reason – they cannot be done vindictively. Given the UK will have similar standards to the EU in this area this ensures continued trade.
· WTO’s Technical Barriers to Trade: The trade of goods cannot be restricted by the imposition of checks that do not serve a purpose. Again, given that UK standards – in the short term at least – will be much the same as the EU’s, it mandates that arbitrary checks cannot be enacted.
Trade in Services
· The EU’s Single Market in Services does not exist – British companies still face a plethora of national regulations when attempting to export services to the EU27
· EU trade deals do not prioritise services – EU trade negotiations centre around protecting agriculture and exporting goods. Little focus is given to Services (80% UK economy). UK negotiated trade deals would focus primarily on services.
· The UK’s biggest services export destination is the USA: WTO rules are so effective that the USA is our largest export market for services – accounting for just under a quarter of all our exports. (22.75%)
· Greater opportunities – Nigeria, China, India, Brazil and dozens of others, are all seeing a astronomical growth in the size of their middle class. As people move up the
social ladder, their demand for services (and high quality products) increases greatly. This is a fantastic opportunity for Britain to ensure we secure trade deals that allow us to capitalise on this growing market. By 2025, India’s middle class will be larger than the EU’s entire population!
· Taking back our seat at the WTO would mean we were joining a club explicitly focused on liberalising Trade in Services with regular reports and analysis on what can be done to further liberalise trade in services. E.g. October saw the publication of the: ‘Reinvigorating Trade and Inclusive Growth Report’ by the WTO in conjunction with the IMF and World Bank
· General Agreement on Trade in Services – covers 12 services sectors: Business; Communication; Construction and Engineering; Distribution; Education; Environment; Financial; Health; Tourism and Travel; Recreation, Cultural, and Sporting; Transport; "Other”. The UK retaking its seat at the WTO will inject new focus on further liberalising these areas.
Unilateral Action
· We can unilaterally slash tariffs on goods that we do not produce here, making products cheaper for UK consumers and giving them more money in their back pocket. E.g. 16% tariff on oranges and 7.5% tariff on roasted coffee. Estimates suggest that by unilaterally reducing tariffs on goods we do NOT produce the price of an average shop could fall by 8%.
· Unilateral Free Trade means that less of our money is spent covering the cost of EU tariffs, and can be redirected into other industries, stimulating other sectors and supporting embryonic companies. This knock-on effect leads some economists to believe in will result in a £80 billion boom
Technological Opportunities
· The World Customs Organisation predicts that technology, such as blockchain and AI, will “soon become part of the customs landscape” – allowing goods to enter through ports with almost non-existent physical inspections.
· Britain, with the impetus of preparing for a World Trade Brexit, can embrace these changes ahead of the curve
· By readying our customs facilities to trade with the EU on WTO terms, we will streamline existing trade that is done on those terms.
The EU will come back for a Future Trade Deal
· Best chance to secure a good trade deal with the EU in the longterm: The EU has invested incredible resources on ensuring it has good relationships with all neighbouring countries. Agreements such as the: European Neighbourhood Partnership, Association Agreements with countries like Morocco, and an intimate relationship with EFTA states. The notion that it would allow a no deal situation with the UK – the world’s fifth largest economy – to exist indefinitely flies in the face of decades of regional co-operation
· The EU justifies its existence as a trading body: The EU is what is referred to as a ‘normative power’. This means that it makes itself a relevant and ‘important’ figure in international politics by extoling certain values, norms, and beliefs. One of these values is ‘multilateralism’ – meaning that it prides itself on working with others and co-operating. Clearly, a no deal Brexit would dent this image somewhat
· We are their largest export market: They export more to us (£341 billion) than we do to them (£274 billion). Economically it is in their interest.
£39billion
· The £39 billion the Government has set aside could be reinvested into the British economy: Given that the treasury will have been making plans that do not include this money, the fact that was now available would be a welcome boost to the British economy.
· As John Longworth has called for, saving this money could be used to give tax breaks to the British population, or invest in the NHS
· £39 billion could fund 22,000 nurses a year for a generation
· It could also fund 20,000 police officers a year for a generation
Certainty
· Having a clear set of rules for our future trade provides much needed certainty for business. WTO rules are straightforward, and easy to comprehend
· Most of the uncertainty of the last 2 years has not been caused by Brexit itself. The cause of uncertainty has been the constantly moving goalposts – caused by a Government unsure as to what kind of Brexit it wants.
· By saying clearly that we are moving to WTO terms, businesses know the terms of trade that will be used and can begin preparations.
· Under May’s plan – this certainty would not be provided – as after March 2019 there would be an indefinite period of negotiations with businesses never certain as to how the cards will fall.
Foreign Policy
· Britain will regain an unencumbered voice at international forums. The G7, G20, OECD, UN Security Council – and at a range of policy specific bodies – we are currently required to ‘check in’ with the EU
· Under May’s plan, we would be unable to pursue an independent foreign policy that did not have the approval of the EU
· A World Trade Brexit will ensure that the UK does not have these impositions imposed on it. At a time of growing Russian aggression and disruption in the Middle East, it is vital that the UK is able to resume its role as a key arbiter of global peace as soon as possible. E.g. The UK is currently unable to apply pressure on the Russian administration through the use of ‘economic sanctions’. This is because it is prohibited from doing so under EU rules.
Trade in goods
· The amount we export to the rest of the world on WTO terms is rising (e.g. exports to the USA of cars rose by 50% between 2015 and 2017) whereas the amount we export to the EU is falling.
· Trading decisions are increasingly made at a global level: in many cases the EU only replicates decisions made at a global level in a process called ‘goldplating’. A clean break from the EU means we can cut out the middle-man, take back our seat at the top forum, and actually influence the international decisions.
· The General Agreement on Trade and Tariffs provides a secure framework for trade in goods to take place. This is enforced with by the WTO’s Dispute Settlement System
Avoid 2 further years of EU regulation
· Even whilst we had a voice in the EU institutions, many EU regulations were imposed on us that did not suit the British economy and workforce e.g. Working Time Directive, Medical Trials Directive, GDPR, Port Services Regulation.
· A clean break on March 2019 would mean we can begin the laborious – but necessary – process of cleaning up the British statute books much earlier than expected
· May’s plan would not only delay this process being started, but would actually means that EU rules ( over which we’d have had no say ) continue to flood the British economy.
Forwarded by : -
The UK Independence Party
St Ives & The Isles of Scilly Branch

Penzance – Helston – St. Just – The Lizard – St. Keverne
Porthleven - St. Buryan - Sennen – St. Ives - Lands End
The Isles of Scilly.

E mail: [email protected]

Tel: 01736 797 830
« Last Edit: January 05, 2019, 04:13:29 PM by the leveller »


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