Another day, another Brexit scare. It seems that a ‘group of MPs’ – Remainers perhaps? – have produced a study that says hundreds of jobs will be lost in the UK car industry if we leave the single market and customs union.
Let’s examine the possible scenarios in depth, shall we?
(1) We leave with no deal and WTO tariffs come into effect. Because of the drop in the sterling exchange rate we’ve already seen, foreign imported cars are more expensive. Similarly, exported UK cars are cheaper to buy abroad. The tariffs apply equally in both directions.
(2) All car imports and exports stop happening altogether. Really? No, but let’s assume so. As a result UK buyers are stuck with UK produced cars.
In either of these scenarios, UK car production increases, so naturally there will be job losses in the UK motor industry won’t there? Well, obviously not…
Can anyone take this seriously? Is there anyone out there who seriously thinks that VW/Audi, Mercedes, BMW, Renault, Citroen, Dacia, Skoda and all the other Euro car manufacturers are going to tolerate the Brussels bureaucracy killing access to one of their biggest markets?
Of course not. It’s just another Brexit scare to frighten stupid people like you and me…