Profile picture
Tony Addison @TonysAngle
, 8 tweets, 6 min read Read on Twitter
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?)… 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).
"A goods-only #Brexit deal puts UK services sector jobs at risk". Yes, it certainly does: see the excellent @ChrisGiles_… via @financialtimes
As @ChrisGiles_ points out: "More than 40% of exports to the EU last year were services, with a large majority being in areas outside banking services and the City of London". So all this deluded piffle from the Government about the Customs Union & goods is just that: piffle.
Fundamentally UK Govt. is trying to throw up barriers to trade with its largest export market: "The EU ... is the UK’s largest trading partner. In 2017, UK exports to the EU were £274 bn (45% of all UK exports). See: ’Statistics on UK-EU trade” #Brexit
Hard to see why a services-based economy like the UK wants to walk away from the single market. But that's what May is proposing. Excellent @csgmoore nails it:… via @politics_co_uk h/t @DavidHenigUK #Brexit
Services account for some 80% of UK economy. UK economy is more reliant on services than any other G7 economy (Germany: 69% of GDP comes from services). And so UK government has a bright idea: let's leave EU single market in services, which has benefited UK companies! 🤪🤪
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Tony Addison
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!

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

Become a Premium Member and get exclusive features!

Premium member ($3.00/month or $30.00/year)

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

Donate via Paypal Become our Patreon

Thank you for your support!