Macroeconomics: UK economy, IB Economics
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Macroeconomics: UK economy, IB Economics
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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Post-Brexit taxes for steel 'very damaging', says Kinnock

Post-Brexit taxes for steel 'very damaging', says Kinnock | Macroeconomics: UK economy, IB Economics | Scoop.it
Stephen Kinnock MP says the UK's steel industry needs state aid and new export quotas with the EU.
Graham Watson's insight:

It seems that the post-Brexit trade deal is soon likely to see British made steel facing a 25% tariff when it's exported to the EU, as a result of steel quotas running out in the near future.

 

That's bad news, especially for Port Talbot, where around 4,000 people are employed. Another rather obvious cost of Brexit. 

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'We'll be shafted': amid EU trade talks, there's little optimism at Brixham harbour | Brexit | The Guardian

'We'll be shafted': amid EU trade talks, there's little optimism at Brixham harbour | Brexit | The Guardian | Macroeconomics: UK economy, IB Economics | Scoop.it
The Devon port is reliant on the fishing industry and the mood is not helped by a recent tragedy
Graham Watson's insight:

Two sides of the fishing debate are aired in this Guardian piece. It seems the bulk of Brixham's fishermen are pro-Brexit, but there's one notable exception who thinks that Brexit itself is a disaster for the sector. 

 

From my perspective - albeit a distant one, and my forefathers were actually Morecambe Bay prawnermen - there are two things to note.

 

In the first instance, the relatively small number of fishermen - and their contribution to GDP. What makes fishermen different to miners, or shipbuilders, or any other sector of industry that has seen sectoral decline? Secondly, the notion that "We want our water and quotas back" is an interesting one. I'm under the impression, perhaps erroneously, that a good number of the quotas owned by EU fishermen have been sold to them by British fishermen, a voluntary exchange. 

 

Is there more to this than meets the eye?

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