Brexit red tape isn't a zero sum game.
If new (new for us now we're a third country) red tape means someone now has to spend 2 hours a day filling in forms, and their time is worth Β£30/hour to their firm, that's Β£60 gone every day.
Nobody got that Β£60. It's just lost to Brexit.
If new (new for us now we're a third country) red tape means someone now has to spend 2 hours a day filling in forms, and their time is worth Β£30/hour to their firm, that's Β£60 gone every day.
Nobody got that Β£60. It's just lost to Brexit.
Now scale all that wasted effort by tens or hundreds of thousands of firms, and you quickly reach eye-watering numbers no matter what underlying figures you use.
All these losses are wasted opportunity, lost to Brexit friction. Nobody profited from them. The money is just gone.
All these losses are wasted opportunity, lost to Brexit friction. Nobody profited from them. The money is just gone.
Some of this is teething problems. An unfamiliar form takes longer to get to grips with than one you've completed a hundred times already. You only have to establish the origin of any given product once, and afterwards you have that information. And so on.
But a lot is systemic.
But a lot is systemic.
Some firms won't be able to afford the learning curve costs, and will give up selling to the EU. (That may be enough to tip some into bankruptcy.)
Others will weather the initial period, but face permanently higher costs from the extra friction, making them less competitive.
Others will weather the initial period, but face permanently higher costs from the extra friction, making them less competitive.
β’ β’ β’
Missing some Tweet in this thread? You can try to
force a refresh
γ
