Much is made of the proposition that if there was a second referendum now people would have the facts.
However I’m struggling even to find some basic facts to help determine the impact of a no deal Brexit.
Specifically how much would the UK have to pay out in extra duties and tariffs per annum if we left the EU with no deal on WTO rules on the initial assumption that the level and distribution of imports remained the same as now and using the duty and tariff rates currently applicable to those imports?
Without actually knowing this figure how can we start to assess the impact of no deal and therefore make a balanced judgement.
At the moment my understanding is that our net contribution to the EU is approx 9 billion pa.
So if the estimated extra tariffs and duties from a no deal Brexit under WTO were less than 9 billion it seems to me we start to be better off.
Without those numbers how can we even begin to decide.
Can anyone throw any light on this?
Of course there are many other factors to consider with Brexit and its pointless having a Brexit debate here but I was just interested to find some basic numbers in this particular area