The EU is by far the UK's biggest car export market, with more than half
of all finished cars bought by the EU. This is four times as large as the next
biggest market. UK car manufacturing generated £77.5 billion of turnover last
year and accounted for 12% of the total goods exported from the UK.
Clearly the EU is a ‘big deal’ in car making and to the UK economy.
All of this is the by-product of the tariff / tax free movement of goods
within the EU……can you now imagine the impact of increasing car production
costs if there is a new EU import / export tariff?
Then add in new regulatory red tape and new labour issues and it is
clear there is much to be thrashed out during Brexit negotiations.
This is just one small area amongst the enormity of issues to be
negotiated……but it is one small area that employs 1 million people in the UK.
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