EU negotiator Michel Barnier warns 💷 Brexit and the Myths of EU Trade 2 months ago   01:18

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Comments 33 Comments

wolfie smith
free from umpa lumpaz
isobella adduci
to people in comments Theresa may just give eu £175 billion through Africa,eu is killing us by using Africa and immigration our old people are starving and freezing.. Theresa may says Africa will be our main trade after brexit. africa is so viopent that ebola,yellow fever,plague,aids is ravaging people over there and people who help will be killed if they go in and gelp,so what do we want to trade with it for why go in and out constantly making us the most other country in danger
GandalphsPipe murf
Fuck the EU,USA all the way and fuck all you Trump haters half the people that want the UK to stay in EU are just Fucking Bellends crying about what there gonna loose when we fuck the EU off Up my middle Finger ......
wolfie smith
Barnier is the wizard of OZ(EU)-- NO deal would be perfect start for a FREE UK
Geert De Coster
How hard is it for the Brits to realize that Barnier is just doing his job and looking after the EU countries first... and that the Irish Republic is a fully independent state that needs to be respected and treated that way by the UK?
4TheRecord
Shut up Michel Barnier!! This is why I can't wait to leave the EU, so these Europeans can no longer feel it's their place to come and tell us what we can and can't do. Bye bye EU!!
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💷 Brexit and the Myths of EU Trade EU negotiator Michel Barnier warns 2 months ago   05:17

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When going over some old ground regarding the EU, trade deals and tariffs - I re-discovered a very informative piece by someone who really knows what they’re on about - and it will come as a shock to some.

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Just like everyone else my memory tends to become sieve-like just at the wrong moment. So I’m often to be found going over old ground to refresh myself on matters over which I had become somewhat hazy.

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During this process today, I came across an article written in May 2016, called ‘Myths about Trade & the Single Market’ written by the man who was the Secretary for Trade and Industry in the lead up to the Single Market being implemented in the UK - former Conservative MP the Right Honourable Peter Lilley who retired from politics earlier this year.

In the article - to which I’ve put a link in the description box below the video - he throws some surprising light on international trade and tariffs.

He starts by pointing out that he was, before he retired, the only MP with first hand experience of both trade and the single market. And then went on to say that:

“Sadly, when politicians debate issues of which they have no experience they seize on any plausible argument which supports their case. Unfortunately, in matters of trade what sounds plausible is often the reverse of the truth.”

His first point is that trade deals are ‘grossly exaggerated’, his words, not mine.

“Countries succeed, with or without trade deals,” he said “if they produce goods and services other countries want”.

He goes on to say that, because most tariffs are now so low, the most worthwhile trade deals to strike are those with fast growing, developing countries.

His second point is that the UK’s still current contributions to the EU of about £10 billion a year equate to an average tariff of seven percent, but if we were to leave with no deal at all the average tariff we would face would be about 2.4 percent.

As he puts it - “Paying 7% to avoid 2-3% is miss-selling that dwarfs the PPI scandal!”

The third point is that EU membership has so far prevented the UK setting up its own deals and that, in reality, the EU has so far failed to deliver that many deals.

The fourth point is a big one. In his experience the monolithic EU is less able to strike good a deal than a single country.

“Bilateral deals are simpler, quicker and more comprehensive”, he said.

Another point concerns the topical subject of the copy and pasting of current deals we have with other countries via the EU. Many pro-EU commentators today are deriding this route, but as Peter Lilley points out:

“Under the 'principle of continuity' in international law we can novate existing EU treaties to the UK. We should start that process ahead of leaving the EU.”

People also assume that we benefit from participating in the rule making process within the EU, he said. But as he indicates, this system gives the same benefits to the US and Japanese producers who are not in the EU and don’t participate in that process.

Then there’s the pass-porting of financial services. Having helped put the system in place, Peter Lilley said he decided to make a speech on how it had benefited businesses. The trouble was that his advisers couldn’t find a company that was doing any type business that it wasn’t doing before.

On claims that businesses would flee the City - he says the reverse could be true as firms gravitate towards London to escape onerous rules and regulations in the EU, just like companies had done for decades. In fact staying in the EU would do more to stifle our financial services than free them up.

“I am convinced that the City, where I used to work, has most to lose in the long term from the gradual erosion of its historic advantages if we stay in the EU….” he said.

I would urge you to go and read his article, which goes into more depth and covers more areas than this video - then come back and let us know what you think.

Thank you.

http://www.peterlilley.co.uk/publications/1898/myths-about-trade-single-market