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Sam Lowe @SamuelMarcLowe
, 4 tweets, 2 min read Read on Twitter
The facilitated customs arrangement has its issues but this thread isn’t quite accurate. Government proposal is that tariff revenue is allocated on the basis of a formula, not product-by-product tracking.
See paragraph 17a of white paper.

assets.publishing.service.gov.uk/government/upl…
Also need to remember that under the proposed model all imports to UK levied with tariff at EU rate unless.

a) part of new trusted trader scheme and trusted to declare end destination = UK at the border
b) subsequently demonstrated final sale = UK and claim rebate
There are lots of issues with UK's proposed customs solution, including the below for example, but important to be clear about what they actually are.
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I often find myself thinking about the claim that UK food prices will fall post-Brexit so long as the UK removes the existing EU tariffs on food imports (which can be quite high) either unilaterally or via new free trade agreements.

I'm sceptical, for a few reasons.
The first being that vast majority of our imported food comes from EU. Even if we unilaterally dropped tariffs on all imported food, we would still import a lot of food from the EU. EU food will be more expensive than now, if only because of new bureaucracy (ignoring tariffs).
Second, currency.

The IFS estimate that unilateral tariff removal could reduce household prices about 0.7–1.2%. This benefit has already been negated by a ~2% depreciation in sterling post-referendum.

ifs.org.uk/uploads/public…
Read 8 tweets
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Day 4 without a working boiler. I am starting to get cold.
Fair point.
Fixed! And I now have the number of a great gas engineer for any North Londoners in need. (Diagnosed and fixed it in 30 minutes compared to a 3 hour failed attempt by cowboys on NY eve).
Read 4 tweets
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Tariffs not biggest issue for British food exporters to EU, bigger issue is delays at the border and additional bureaucracy.

For example, milk for human consumption must enter EU via inspection post where 100% shipments subject to identity & doc checks; 50% physical inspection.
Because twitter, I’ve had a few “well that’s not a problem because we don’t export much milk” responses despite me saying it was just an example.

Here’s a product by product breakdown of checks and frequency UK products of animal origin would face if no deal.
The physical inspection rate can be reduced if the UK and EU reach an equivalence arrangement but this doesn’t remove need for document and identity checks nor for products to enter EU via a veterinary border inspection post. Anyway, it’s all in here: apha.defra.gov.uk/documents/bip/…
Read 3 tweets

Related threads

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1. .@lirsgovng has issued a public notice, appointing employers as its agent, requesting employers to deduct and remit capital gains tax on payments to employees as compensations for loss of employment. Let’s look at this issue of taxing severance benefits. #Thread #TaxingNigeria
2. Whilst @LIRSGovNG agrees that compensation for loss of employment are free of personal income tax, it seek ways to proactively collect capital gains tax as may be prescribed by Capital Gains Tax Act, by holding employers responsible. #TaxingNigeria #SeveranceBenefit
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001/ [article content in this tweet series 001-180 reproduced with permission from Martin Howe QC of Lawyers for Britain @lawyers4britain]
#quote "Leaving the EU on WTO terms: pulling down the barriers to world trade
Introduction: why prices will FALL after Brexit, not rise" /002
002/ #quote "Over the past couple of weeks, the media have been full of lurid scare stories about what will happen if the UK leaves the EU on WTO terms, because negotiations with the EU do not result in a withdrawal agreement." /003
#tariffs #NoDeal #Brexit #WTO #ProjectFear #shortages #food #medicines
003/ #quote "One of the most ridiculous and UNJUSTIFIED of these absurd scare stories is that it will lead to higher prices, and even shortages, of foods and medicines." /004
Read 180 tweets
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Quite amusing that the north-south debate over public finances has been taking place with complete disregard to Public Finance theory itself. Guess it shouldn't be surprising but let me attempt anyways.. #thread
First of all, I'm no expert in the subject. Much of what I know comes from a few textbooks and by listening to Gurus like Dr M Govinda Rao. All mistakes are my own and I'll be happy to learn if I'm going wrong somewhere.
Now any federal system faces one issue. States have more responsibilities but their earnings are less. Which means the only way they can work is by depending on money transfers from the union.
Read 25 tweets
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#thread

The Tinubu Rhetoric - My Response, By Dr. Abubakar Bukola Saraki

I have always restrained from joining issues in the media with Asiwaju Bola Ahmed Tinubu and this is based on my respect for him.
However, I will not allow him to create a wrong, false and mischievous impression about the reasons for my decision to exit the All Progressives Congress (APC) and present his prejudice as facts for public consumption.
I have been consistent in my complaints to all leaders of the APC, including Tinubu, that a situation where the National Assembly is not constructively engaged or carried along in key policy decisions, particularly those that will eventually require legislative approval,.....
Read 31 tweets
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A suggestion of a ministerial resignation over this new clause 36... not confirmed yet - awaiting result - if former true, government heading for farcical embarrassing defeat
Government passes Rees Mogg amendment making it illegal for HMRC to apply Government’s own White Paper Facilitated Customs Arrangement without reciprocal tariff collection by EU by 3 votes in end 305-302, MPs saying that a minister has resigned over this
So Guto Bebb @GutoAberconwy has confirmed to me that he has resigned from Government tonight as a Defence minister in order to vote against the government accepting Rees Mogg amending customs bill over Facilitated Customs Arrangement Chequers idea
Read 12 tweets
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“Facilitated Customs Arrangement” will be “best of both worlds” between Customs Partnership and Max Fac models being tested - confirming my account of a hybrid/fusion model being tested at this recent meeting with business a fortnight ago
The absolutely key defining detail on this for Chequers given the account of that business meeting and the documents circulated is on timing of getting customs systems ready - 3-5 years optimistic - a decade said some present - ready by end 2020 - no chance.
And that’s obviously before we get to what EU might make of it - PM in Berlin this afternoon... two excellent British Brussels watchers increasingly despondent re deal - glass half full version is establishing agreed UK Cabinet position at least a start
Read 3 tweets

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