In Focus Commercial Credit
Leaving the EU without a negotiated deal
Is it time to consider simply trading with the European Union on World Trade Organization terms?
Dr Tony Syme Director of admissions, the University of Salford Business School
Last month’s resignation by Dominic Raab is the second by a Brexit Secretary. That our own negotiator cannot even support the Brexit deal that he negotiated is sending out a very clear message that no deal is a very real possibility next March.
Uncertainty Already it has caused sterling to lose over 1% in value, but it is British businesses who will continue bear the brunt as the uncertainty over our future relationship with the EU increases following recent developments. Business investment has declined in each
of the last three quarters, while Premier Foods has already announced that it intends to stockpile raw materials. Many more are expected to follow suit.
Retail sales With all the news about resignations, it is easy to miss one important announcement from the Office for National Statistics: retail sales fell 0.5% in October.
Businesses are cutting back on expenditure
and so are households. The outlook is not good for either the British economy or the Prime Minister.
Crass stupidity So Dominic Raab, Esther McVey and Shailesh Vara have all resigned in protest at Theresa May’s capitulation to the demands of Brussels.
The crass stupidity of presenting the
Cabinet with a document – the first draft of which led to the resignation of the first Brexit Secretary (David Davis) and the Foreign Secretary (Boris Johnson) – beggars belief.
The pro-remain May has led a government to negotiate an exit from the EU. It was a grave error to assume that a ‘remainer’ would be sufficiently motivated to deliver a ‘leave’ result
‘Project fear’ I have repeatedly said that it was impossible to negotiate with the European Union (EU) – they do not want us to leave, and before, during, and after the referendum campaign instigated a deluge of ‘remain’ propaganda known as ‘Project Fear. The pro-remain May has led a government
to negotiate an exit from the EU. It was a grave error to assume that a ‘remainer’ would be sufficiently motivated to deliver a ‘leave’ result. The time has come to do what I and many
others have been suggesting for a long time: leave on 29 March 2019, without any form of agreement, revert to trade under World Trade Organization terms, and save our £40bn. CCR
December 2018
www.CCRMagazine.com
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