Brexit

[maggiebee]

Just heard on the news that it might cost the UK £40 billion to leave Europe. Where is this money going to come from?

[Islay]

Us the taxpayers

[Patsy33]

So grotesque!

[dannyk13]

One guess, but I wouldn't worry too much, it will not be enough.

[EDDIE51]

They want £65 Billion so I don't think they will settle for £40 Billion.

[albaqwerty]

They can want all they like, do they not know the meaning of the word 'negotiate'?

Who appointed whats-his-face as the negotiator for the EU?
If it was Merkel, then his position may become rather sticky.

[dave50]

I thought we voted simply to leave the EU. Then just leave, don't pay anything, what are they going to do about it?

[albaqwerty]

Dave, according to some scare-mongers, slap huge tariffs on British exports for starters.
(maybe they will, maybe they won't)
Some others think that other countries won't trade with the UK as we didn't hold up 'our end of the deal'

Balderdash, just go and let the other 27 get on with it.

[dannyk13]

If they slap any tariffs on our imports we will just do the same with their imports from us.

[Bazile]

//Where is this money going to come from?//

Well if the government did not fritter our cash away like this ( and plenty more ) , we would have the dough to pass over to our Europen friends

https://www.theregister.co.uk/2016/09/20/margaret_hodge_details_mind_boggling_public_sector_waste/

[anneasquith]

Oh, just sit back and watch this pantomime :-)

[Islay]

Exactly Annea and the frothers at the mouthers!

[Kromovaracun]

//If they slap any tariffs on our imports we will just do the same with their imports from us. //

We're one country, Danny. We import far far more from the EU than they do from us.

Given that a "no deal" scenario will result in WTO terms, the EU will recoup a huge portion of our lost membership fees in tariffs. It's not a threat to them.

[ichkeria]

The issue is not that trade will stop but that it will be severely hampered by tariffs

[jno]

all these individual trade deals Britain hopes to strike - just how many countries would sign a deal with a country that's just walked away from its debts? Oh, Rwanda and Paraguay might be up for it.

[New Judge]

“Oh, just sit back and watch this pantomime :-)”

Why do you consider what is going on to be a pantomime, anne?

It was quite clear that the UK government was intent in trying to secure the continuation of as many of the (few) advantages of EU membership to continue after we had left. It was equally obvious that the EU would not allow this without considerable concessions (including lorry loads of cash which is their overriding concern). The negotiations are now at the point where the UK needs to seriously consider whether promising such enormous sums of money in return for something that many nations in the rest of the world have for nothing is really worth the rub.

What’s happening now is no more than anybody who has witnessed the intransigence of the Euromaniacs would have expected. But it is no more a pantomime than the shenanigans that would have ensued from the EU had we remained. Everything associated with the EU is pernicious and obnoxious and attempting to leave it in a smooth and dignified manner will be no exception. I’d be interested to learn your views on what would have followed if we had agreed to remain. Do you think our contributions would have stabilised or been reduced?


//If they slap any tariffs on our imports we will just do the same with their imports from us. //

Er…er…

I think you mean //If they slap any tariffs on our exports [too them] we will just do the same with their exports [to us]. //

“Given that a "no deal" scenario will result in WTO terms, the EU will recoup a huge portion of our lost membership fees in tariffs.”

No they won’t.

You are quite correct to sat “We import far far more from the EU than they do from us.”. So, for example:

Exports from the EU to the UK are £50bn; tariffs at 10% then the EU pays the UK £5bn.

Exports from the UK to the EU are £20bn; tariffs at 10% then the UK pays the EU £2bn.

Result; the UK turns a £3bn profit. It has been made clear for some time that the EU will be the net losers in any “tit for tat” tariff imposition simply because the EU runs a huge trade surplus with the UK. It’s the party that exports the most (the EU) that will pay the most in tariffs.

[Ken4155]

Am i correct in thinking that, long before the referendum, we committed ourselves to certain EU projects? If so, then i believe we should meet the cost of those commitments. Nothing more, nothing less. Surely that's the fairest way.

[New Judge]

"...just how many countries would sign a deal with a country that's just walked away from its debts?"

The "exit fees" under discussion are not debts.

[dannyk13]

Kromo, the German car manufacturers have already expressed their concern about the Eu making it awkward for us will also affect their exports to us.

[dannyk13]

//Am i correct in thinking that, long before the referendum, we committed ourselves to certain EU projects?//
Yes we did, and this is what Mrs May is willing to pay for.

[anotheoldgit]

/// Where is this money going to come from? ///

From the vast amounts we pay into the EU, all of which we will then be saving, when we leave.