— Our Future, Our Choice (@OFOCBrexit) May 30, 2019
What he doesn’t mention in that under WTO rules, having instituted zero tariffs, even if food might, initially, be cheaper to import it is highly likely that over time the exchange rate would compensate, which would mean that food might revert to its previous prices. Not before, of course, most of British agriculture had been brought very low. Meanwhile exports, if not already decimated, would survive only because the resultant low value of Sterling meant that a tariff of 10 or 20% payable in the importing country might end up as very small beer.The delays caused by customs and regulatory checks might end up as equally – maybe more important.
Meanwhile the disaster capitalists would have made their fortunes by successfully ‘shorting’ Sterling.
Additionally, with Britain levying zero tariffs on all its imports from anywhere, no country whatsoever would have any incentive to strike a trade deal with the UK – they already have the ‘best deal’ and pay no tariffs!