From manufacturing to pet passports, the disruption would be immenseby Jonathan Lis / July 27, 2018 / Leave a comment
Future historians of Britain’s greatness, mark this week in your diary. The prime minister really has admitted that we will be stockpiling food and medicines in case of a no-deal Brexit.
Do not be fooled by the Brexiteers’ subtle rebrand of no deal as the “World Trade deal.” WTO terms would do immense damage to British industry. Not a single advanced economy in the world trades solely on them. Most important, the WTO only governs general trade frameworks—it has nothing to say on anything from aviation to food safety.
If “no deal” was the will of the people, here is a small selection of what they apparently willed.
1. First things first, the economy. The pound will almost certainly plummet, although it may not happen overnight as no deal would have been on the cards for some weeks before 30th March. Inflation is likely to rise sharply. Businesses will activate their contingency plans. The UK stops being seen as a reliable economic hub. More on all of this later.
2. Three million European Union citizens in the UK and one million Britons in the EU will lose all automatic rights and protections overnight. Simply, they will have no guaranteed legal status.
3. Planes will stop flying. Aviation is currently governed by the Single European Sky, European Aviation Safety Agency and aviation single market. You fall out of those, and pilots and planes lose their certification overnight. Ignore the people who think they are being original in pointing out that non-EU countries can fly planes to the EU. Non-EU countries aren’t voluntarily crashing out of their supervisory aviation mechanisms. Oh, and don’t even think about escaping to the United States. UK/US air travel is governed by an EU agreement too.