- Joined
- Jun 15, 2000
- Messages
- 90,056
- Location
- Centreback
- Caf Award
- Caf Lifetime Achievement Award 2020
We have a trade deficit to the EU of more than 60 billion per year but that's about 3 to 4% of the overall EU economy. 13% of our economy is to the EU. They're a bigger customer to us than we are to them.
And a huge proportion of the physical things we sell to the EU is due to companies like car assemblers who set up where they did because we are within the EU. These sorts of companies will stop setting up in the UK and many even close plants and move production to within the EU again. Services are our biggest export and we have already seen financial services companies moving overseas. So we are going to suffer there again.
The bottom line is that what now occurs isn't very important as things will change for the worse for us after Brexit. The EU may suffer as well but we haven't given them a choice - we told them we are leaving. Now it is up to them to negotiate the best deal for the EU, not the best deal for the UK.