Thread by @37paday

1/ The UK GOV said this about a WTO model in 2016:

2/ "WTO rules represent a minimum threshold. It would be the most definitive break with the EU, offering no preferential access to the Single Market, no wider co-operation on crime or terrorism, no obligations for budgetary contributions or free movement of people"

3/ "If we did not manage to secure an agreement on better terms, we would be forced to revert to this model. This would cause a major economic shock to the UK, with serious consequences for companies, consumers, jobs and prices"

4/ "The UK would face immediate and heavy costs to our trading relationships, both with the EU and with the wider world. If reciprocal tariffs were introduced on imports from the EU, these goods would become more expensive."

5/ "UK nationals would not have the rights that they currently enjoy to live, work and
travel in the EU."

6/ "Under WTO rules neither the UK nor the EU could offer each other better market
access than that offered to all other WTO members. "

7/ "Our privileged access to 53 markets outside the EU through the EU’s Free Trade
Agreements would be terminated. We could seek to negotiate new agreements, but
this would take years. It would be difficult to replicate the terms that we currently
enjoy."

8/ Here is the link: assets.publishing.service.gov.uk/government/upl…

9/ Also worth noting: "Under most of the alternatives described in this paper, the UK would be outside the EU Customs Union and so trade across the border with Ireland would be subject to customs controls and rules on the origin of products"

10/ Also worth noting the EU identified the Irish border as an issue immediately consilium.europa.eu/en/press/press…

11/ "In view of the unique circumstances on the island of Ireland, flexible and imaginative solutions will be required, including with the aim of avoiding a hard border"