stats and things

[stats and things @statsandthings]

Either @LiamHalligan is a fool or he takes everyone else for a fool. #Brexit #CPTPP

[Liam Halligan @LiamHalligan]

The CPTPP is a trade agreement between 11 "Pacific Rim” nations – including Japan, Canada, Australia and New Zealand, plus Mexico and Peru.

With Britain joining, CPTPPP will account for 16% of global GDP, same as EU 27.

By 2050 though, on World Bank forecasts, CPTPP will account for almost a quarter of the world economy, the EU27 just a tenth.

Makes a lot of sense for a huge service-sector exporter like the UK to be part of a bloc primed for fast growth.

[stats and things @statsandthings]

@BritainUnbound @LyddonConsult I suggest you get someone who knows what they're talking about because that is garbage, e.g. EIB and ESM are capitalised financial entities, the EFSF guarantees ARE included in members' debt, and central banks have balance sheet assets which offset their liabilities.

[stats and things @statsandthings]

@nigethugrug @anandMenon1 @IGMansfield @julianHjessop How is it part of a bigger trade bloc?

EU: 18% of global GDP next to UK, 45% of UK trade

CPTPP11: 11% of global GDP scattered about further away, 8% of UK trade

[stats and things @statsandthings]

@nigethugrug @afneil @anandMenon1 @TerraOrBust @SKinnock How is it part of a bigger trade bloc?

EU: 18% of global GDP next to UK, 45% of UK trade

CPTPP11: 11% of global GDP scattered about further away, 8% of UK trade

[stats and things @statsandthings]

@TDrasand7199 @UxbEconomist07 Both are declining then.

[stats and things @statsandthings]

@TDrasand7199 @UxbEconomist07 What’s your metric for both?

[stats and things @statsandthings]

@RobertJudd4 @donjovi2 @WasAcop I never said he didn’t.

[stats and things @statsandthings]

@RobertJudd4 @donjovi2 @WasAcop Because it doesn’t set corporation tax rates, it only sets a floor below which they can’t go.

[stats and things @statsandthings]

@RobertJudd4 @donjovi2 @WasAcop UK is part of that OECD pact too.

[stats and things @statsandthings]

@RobertJudd4 @donjovi2 @WasAcop There's no one stopping UK lowering its taxes if it wishes.

EU hasn't blocked Ireland having 12.5% corp tax because it can't because direct taxation is a national competency.

[stats and things @statsandthings]

@MintIrate @benjaminbutter How is it a booming market?

[stats and things @statsandthings]

@Personoftalent @Ruislip4EU @TerraOrBust They are three different revenue streams that make up a single budget contribution.

customs contribution +
VAT-based contribution +
GNI-based contribution =
budget contribution

[stats and things @statsandthings]

@Personoftalent @Ruislip4EU @TerraOrBust As I told you then it’s not an “extra payment” as you claimed. It literally forms part of every member’s budget contribution.

Budget contribution =
customs component +
VAT-based component +
GNI-based component

[stats and things @statsandthings]

@Personoftalent @Ruislip4EU @TerraOrBust It’s not. It’s makes up about 1/6th of the budget contribution.

[stats and things @statsandthings]

@DailyRedDevils1 @IainDale What UK taxpayers bailout?

[stats and things @statsandthings]

@Personoftalent @Ruislip4EU @TerraOrBust Same for all EU members.

[stats and things @statsandthings]

@Personoftalent @Ruislip4EU @TerraOrBust I just told you! There are no RoO requirements intra-EU but UK-EU trade is now extra-EU so RoO apply, and UK can no longer include EU27 content as domestic content in trade with others like it could before meaning meeting RoO where required harder.
https://t.co/b7N8OVIXsb

[stats and things @statsandthings]

@Personoftalent @Ruislip4EU @TerraOrBust There are more of them because of Brexit. They apply UK-EU where they didn’t before and the amount of content UK manufactures can count in trade with other FTA partners can no longer include content from EU. All this adds to tariffs if rules of origin content cannot be met.

[stats and things @statsandthings]

@romfordgeeza @swedetaxedermy @TerraOrBust @HoggarthJan Of course it's more income for the exchequer but that's not the consumer saving like you claimed is it?

You're assuming there's a domestic alternative or the import can be substituted elsewhere cheaper to cancel it out. UK import data and customs data suggests neither.

[stats and things @statsandthings]

@Personoftalent @Ruislip4EU @TerraOrBust It's calculated the same for everyone:

EU budget contribution =

75% of customs duties +
0.3% of VAT base +
x% of GNI (x varies annually but same for everyone)

[stats and things @statsandthings]

@romfordgeeza @swedetaxedermy @TerraOrBust @HoggarthJan But you're not as UK's effective import tariff (customs ÷ imports) is up by half for 5 years straight now.

And what are you talking about services and exports for now when your point was about tariffs on goods imports.
https://t.co/seUAreEMYN

[Geeza. @romfordgeeza]

@swedetaxedermy @TerraOrBust @HoggarthJan And cheaper imports for the consumer, from a wider range of sources.

[stats and things @statsandthings]

@romfordgeeza @swedetaxedermy @TerraOrBust @HoggarthJan The one you keep trying to deny.
https://t.co/x0x82peZjB

[stats and things @statsandthings]

@romfordgeeza @swedetaxedermy @TerraOrBust @HoggarthJan Imports aren’t cheaper and UK’s effective tariff rate (customs ÷ imports) has risen c. 50% since Brexit to the highest it’s been since the late 90s.