Here are six of the most ridiculous claims from #ProjectFear about the impact of a clean #Brexit on businesses, prices and jobs. I’m paraphrasing to make my points, but all are staples of the #Remain camp. (1/8)
Myth 1. Businesses have become so reckless that they now rely on fragile just-in-time supply chains where even the slightest new friction would be catastrophic, and it would be impossible to adapt them without the massive disruption of relocating. (2/8)
Myth 2. Businesses selling only into the EU are so feeble that they would find it very difficult and costly to start filling in a simple customs return, even though they already manage to deal with all the other paperwork required. (3/8)
Myth 3. It would also be difficult and costly for firms (like #Airbus) to comply with any new ‘rules of origin’, even though they use long-established European plants which means it should be easy to prove where parts are coming from. (4/8)
Myth 4. In a ‘no deal’ scenario the UK would choose to maintain the level playing field required under the WTO's MFN rules by imposing costly tariffs on EU imports (from food to car parts), rather than benefit by lowering them on imports from the rest of the world. (5/8)
Myth 5. Despite clear evidence to the contrary (read any recent HMG statement), the UK government would use the greater control allowed by a clean #Brexit to restrict the flow of labour, especially high-skilled workers, in ways that seriously harm businesses based here. (6/8)
Myth 6. The only way to end uncertainty and get firms investing again is to default to the status quo, i.e. replicating the SM and CU, even though there are credible alternatives (eg the @DExEUgov plan) which would minimise additional costs and maximise new opportunities. (7/8)
In summary, I get that many firms would like to keep things just as they are, regardless of the vote to Leave, and we should listen to the concerns of businesses. But IMHO the economic risks of a clean #Brexit are being grossly exaggerated. (8/8)
