Tony Addison Profile picture
Jul 14, 2018 5 tweets 4 min read Read on X
On UK trade arrangements after Brexit, we need more clarity from the Govt. on SERVICES, in which UK is leader (both financial & non-financial services). Chequers plan focuses on goods #R4Today @MishalHusainBBC 1/5
EU accounts for more than 35% of UK's services exports (> share exported to US). This vastly exceeds the shares of the smaller economies (Oz etc.) with which UK is seeking post-Brexit trade deals #R4Today 2/5
The majority of the UK's services exports are in non-financial services (approx. 70%+). That's legal services, media, architecture, tech etc which provide good & mostly well-paid jobs. These services exports are growing (c. @ONS) #R4Today 3/5
UK runs consistent trade surpluses in non-financial services, inc. many services traded with the EU. Yet, Govt. "ambition" is to leave the European single market in services. #R4Today 4/5
And UK financial services, in which UK runs steady trade surpluses with Europe, provides thousands of jobs & much tax revenue. Yet, Govt. intends to leave the single market. #Brexit debate over-focuses on goods & not enough on Brexit's harm to trade/jobs in SERVICES #R4Today 5/5

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Tony Addison

Tony Addison Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @TonysAngle

Jul 6, 2018
Services: 80% of UK economy (architecture, management consulting, legal, creative etc) & big services surplus UK runs with RoW & EU. So why does Govt want to damage economy in #Brexit plan being discussed by cabinet today (focusing on goods only?) ft.com/content/2ce78f… via @FT
And anyway services get bundled in today's global value chains for high-value high-tech goods (c. Aircraft engines & their maintenance) which is what UK government is supposed to be promoting via its (mysterious) industrial policy announced back in 2016.
If you wanted a better trade & industrial policy for UK (which is desirable to create high-paying jobs via higher productivity) you wouldn't put it together in the way that #Brexit is taking us (raising barriers to trading with UK's big EU markets).
Read 8 tweets
Jun 23, 2018
Two years on from #Brexit referendum vote, UK growth has slumped. Lowest of any G7 country. Lower than Eurozone. Likely to fall further (c. Airbus). But hey, no worries, it's all #ProjectFear say the #Brexiteers (graphic @WSJ)
Still, young Brits can always pick fruit - rather than look forward to careers in high-tech industries like Airbus. Well done #Brexiteers (but hey, no worries it's all #ProjectFear isn't it?)
Consumer spending slumped after Brexit Referendum #PeoplesVoteMarch 🇬🇧🇪🇺 (Well done #Brexiteers. But hey, no worries it's all #ProjectFear isn't it?)
Read 5 tweets
May 2, 2018
The Brexiteers are correct: if UK doesn't leave the customs union - enabling it to make its own trade deals - then there is no real #Brexit
(Trouble is: leaving CU will damage UK prosperity, jobs & Ireland. Is this the "will of the people"?).
And here is a succinct summary of the Government's customs union conundrum (of its own making) @SebastianEPayne ft.com/content/d07b5c… via @financialtimes #Brexit
And UK can't quickly make up for lost trade with EU-27 after #Brexit if it does leave the customs union, as this @FT graphic shows:
Read 6 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(