The UK Statistics Authority wrote about statements on UKEU White Paper

13 October 2018 · UK Statistics Authority

The letter is dated 13 October 2018. The UK Statistics Authority published it as Statements on UKEU White Paper. Below are 4 passages from the letter in the regulator's own words.

What the UK Statistics Authority wrote

“Since our imports from outside the EU are about half of all our total imports and exports are roughly equal to imports, the meaningful figure – the proportion of UK trade from outside the EU liable to the repayment mechanism is 16% i.e. 4 times the 4% suggested by the White Paper.”

“We estimate around 4% of UK goods trade in 2017 was of imports of intermediate/unfinished products for which tariff differentials with the EU could arise as a result of the UK’s independent trade policy.”

“The remaining 96% is either: (i) trade with the EU; (ii) exports; (iii) imports which are unlikely to see tariff differentials with the EU, since it is imported under zero MFN tariffs, from existing EU FTA partners or from LDCs; or (iv) imports of finished goods which we assume will pay the correct tariff at the border.”

“Of the remaining 9% of UK goods trade where tariff differentials are more likely to arise, 5% of the total is in finished products, which we assume are likely to pay the correct tariff at the UK border, as they have shorter, less complex supply chains.”

From UK Statistics Authority, letter of 13 October 2018. Read the full letter.

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