The trade-offs of trade: What different Brexits mean for prices and living standards

Tuesday 17 October 2017 Public Finances and the Economy

Joint event with the UK Trade Policy Observatory at the University of Sussex

As Britain prepares for a future outside the single market and its first bilateral trade agreements in over 40 years, the debate about the shape of our new trade policy has risen up the political agenda. Some suggest retaining as much of the status quo as possible post-Brexit, while others advocate radical options such as unilaterally removing all tariffs on imports to the UK.

Away from the negotiating table, how will households be affected by different approaches to trade policy? What impact do trade tariffs have on prices and household consumption? Are particular households or parts of the country most likely to be affected by Britain’s new trading relationships, and what should they fear or look forward to?

At a joint Resolution Foundation event with the UK Trade Policy Observatory, new analysis of the impact of post-Brexit tariff changes on prices was presented, including on how households on low and middle incomes in different parts of the UK will be affected.