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@DavidHenigUK Thank you, this is very helpful. These costs and damages are mostly immediate and short term. There are also long term economic damages from leaving the European Internal Market. 1/
@DavidHenigUK These costs primarily come from the loss of economies of specialization and scale for UK producers of goods and services due to a far smaller internal “domestic” market. /2
@DavidHenigUK The costs of serving the EU from the UK will rise through more “red tape”, higher transport costs because of border delays for checks, and diverging regulations for health and safety. /3
@DavidHenigUK Even the possibility of future divergence will deter companies from investing in the UK, except to serve UK consumers. /4
@DavidHenigUK The £ exchange rate will fall to offset the lower export, but this will increase import prices, especially fuel and foodstuff, so those on low incomes, who spend more on these essentials will lose more relative to their incomes. /5
@DavidHenigUK The underlying growth of productivity and development of the UK’s economy will be reduced, and the rate of inflation increased. Great long-term damage is threatened. For what? /end
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