The problem with shortages of basic items like pasta, is that we in the UK don’t have the capacity to produce our own. bbc.com/news/business-…
Even if we did, producers would need to pay a duty on raw materials like durum wheat, 14.3p/kg to be exact
This would increase the cost of pasta by 31%
Similarly, tinned items couldn’t be efficiently produced domestically. The raw materials wold need to be imported and an import duty paid on the tin can
In May we produced a comprehensive report analysing the joint impact of a no-deal Brexit and covid-19. This is what we found 👇
The industries at particular risk of this double whammy are the manufacturing, banking, finance and insurance sectors
That’s 6.9million jobs in sectors such as manufacturing, banking & finance, distribution, hotels & restaurants and other services that could be affected
Back in October we published a report assessing the domestic impact of a no-deal, we found that the cost of basic goods would increase dramatically bestforbritain.org/britain2021
Using the gov’ts own figures set out in the UK global tariff regime earlier this year, we calculated that the cost of staple goods like tinned tomato and pasta would be subject to a 10-20% increase in cost
The average packet pasta would cost 65p, up from 53p
About a third of Scottish lamb goes for export, and 98% of that is to the European Union. French chefs highly value uplands-grazed lamb. There's a metaphor somewhere in there for the Brexit talks.
But for sheep farmers, this isn't metaphor. This is their future. The average tariff on sheep meat is 48%. It is not a flat rate: instead, there's a fee per kilo and a percentage of the value.
And the more it is butchered and processed, the higher the tariff on entering the European Union. One minister suggested sheep farmers could shift to beef, to replace Ireland's sales of beef into the UK. (He didn't offer suggestions on what Ireland's beef farmers should do.)
Abbott hinting that Frost should take concessions?
In today's International Trade Committee, ex-Aussie PM & official trade adviser Tony Abbott is told 'a good friend is also a critical friend' and asked what he would criticise regarding Britain's trade policy (thread). 1/5
Abbott: "The cautionary note that I gave to my public servants/negotiators back then, and I would probably give generally, is if you want a trade deal, focus on trade.
"And remember that the 'best' is the enemy of the 'good'." 2/5
Abbott: "If we hold out for a deal that is absolutely perfect in every respect, we might well never get it. But if we take the best we can get at this time, then that's nearly always good in itself and is the best possible platform for further progress." 3/5
So many reports out about the 'newly hungry' - those who'd never thought they'd need to use a food bank falling into food poverty due to the pressures of Covid-19. 1/4
Many are young families “up to their neck in debt,” people who have taken advantage of easy credit or over-extended to get on the housing ladder. theguardian.com/society/2020/n… 2/4
“If you are on minimum wage and 20% goes [under furlough] you still have bills and debts. Many can’t afford to feed themselves.” @guardian 3/4
Very interesting @ifgevents this morning on the future of UK-EU security cooperation. Key thing is: crime knows no borders. Hence it is absolutely crucial for the UK to exit the transition period with an arrangement in place in that area. Read more 👇
1/ For NI, Naomi Long says discussions of a possible land border has increased political tension and she is worried border checks will become a target for violence.
2/ Very important not to jeopardise excellent security relationship with RoI and wider EU - key to upholding the Good Friday Agreement and fighting organised crime and terrorism.