‘No Deal’ Means ‘No Parachute’

With Brexit being in the news today, I think it’s worth reminding people that ‘no deal’ means no parachute – we’d be leaving the EU with no plan on how to adapt.

You’ll probably hear the line from Brexiteers that other countries get by with only WTO (World Trade Organisation) terms. This isn’t true – literally every other nation in the world has some kind of trade deal with their local countries. Mauritiana were the only other country to trade only on WTO terms, but in the past few years they’ve joined the Economic Community of West African States.

‘No Deal’ means that other countries can charge additional taxes (tariffs) on things we want to sell in their countries. Some of these can bump up the price a lot, and mean British businesses will sell less of the products we want to send overseas.