Monday, September 26, 2016

The UK's competitive advantage

What good in a UK which is not part of the EU market for not only goods but services and capital as well and where you cannot recruit the best European and world talent? 

That is why a reported very large % of CEOs in the UK are considering moving their companies post referendum.

And that is an issue Theresa May and her team must address ASAP. 

Mrs May has recently claimed that she wants to make the UK a leader/champion for global trade. That is nice and useful, but if the UK was to launch a campaign within the WTO to further liberalise world trade, it will take years and years to achieve that.

If she means creation of regional agreements, eg with the Commonwealth, that is nice but they too will take years and what is the trade gain in value? The EU market (sans the UK) is still the most lucrative one in the world, ahead of the US. 

If she means bilateral trade deals, well many are doing such already and they, too, take years. And she does not have the trade negotiators for it.

Plus, trade usually covers just goods, what about the City's and UK services export needs?

Theresa May needs to come up with answers and do it fast.

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Nick

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