A blagger's guide to the customs union.
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Macroeconomics: UK economy, IB Economics
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A brief overview of relevant articles for IB and A-Level all relating to the UK economy
Curated by
Graham Watson
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Scoop.it!
Focus on customs has cast doubt on PM’s compromise approach to EU exit
Graham Watson's insight:
This little Guardian piece highlights the inherent contradiction of some of the current Brexit debate - the whole issue of whether Britain can remain in a customs union with the EU but not in the EU itself is vexed. Watch this space... 
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It’s seen as a key part of a soft Brexit, but in reality the union has not provided much of a boost, says the Guardian’s economics editor, Larry Elliott
Graham Watson's insight:
Typically excellent Larry Elliott article that highlights a misconception about the UK's customs union with the EU. He suggests that instead of having provided major benefits for the UK economy it hasn't done an awful lot to boost growth or create jobs. As such, he's intrigued as to why maintaining it is seen as central to a soft Brexit deal.
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The BBC understands the chancellor will back a plan that will see Britain collect customs levies on behalf of the EU.
Graham Watson's insight:
The latest twist in the Brexit tale, with the Chancellor, among others, apparently in favour of a customs partnership with the EU, with the UK collecting customs levies on behalf of the EU, but leave the UK free to determine its own tariffs.
If you think it sounds complicated - it is. But some argue that its complexity is designed to force Britain to remain in the customs union via the 'back door'. As you can imagine, this is unpopular in other quarters.
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A straightforward Newsnight clip looking at the nature of the customs union between the UK and the rest of the EU. It's labelled a blagger's guide; it's a little bit more than that.