OPENING
SHOTS
No fears!
THE UK HOLDS ALL THE CARDS
WHEN IT COMES TO BREXIT
I
THE MARCUS
GIBSON COLUMN
Marcus Gibson is a
former Financial Times
columnist and is editor
of the UK SME database
Gibson Index
n the run-up to the Brexit vote
those wishing to get out of the
EU protested against the UK
government’s ‘Project Fear’ campaign – a
litany of disasters and black holes that
they said would inevitably overwhelm
the British economy.
While it is true that many greedy
currency traders worldwide spied a weak
spot in the Pound Sterling, resulting in
a 20% fall in its current value, the vast
majority of the much-forecast problems
are never likely to occur.
First, in spite of the endless threats
from EU officials and outgoing national
leaders such as Angela Merkel, a
cold, hard look at circumstances
demonstrates one thing: it is the UK
that holds all the cards.
One of the least likely doom scenarios
involved Nissan, which exports huge
numbers of cars to the EU. Its leaders
had expressed fears it will be ‘locked
out’ of the Single Market and it was no
❝
THE BEST ASPECT
ABOUT BREXIT IS THE
WAY IN WHICH IT WILL
ENCOURAGE – OR
EVEN FORCE – BRITISH
EXPORTERS TO RE-
DISCOVER THEIR TRUE
MARKETS IN OUR
TRADITIONAL REGIONS
OF THE WORLD
4
SME
surprise to me that the company agreed
to expand its operations in Sunderland
after assurances that the UK government
was committed to securing continued
tariff-free access to EU markets. It shows
that business holds the trump card as we
plan for a post-Brexit world.
In addition, what is the likelihood
that the 750,000 jobs in south Germany
that depend on exports of Mercedes and
BMW cars to the UK will be jeopardised
by a block on the trade by any future
German government? Near zero, one
can predict.
Most recently, the youthful ‘fintech’
sector in London has been screaming
incessantly that Brexit and ‘the future
ban on foreign workers’ will crucify
their companies. This is nonsense. Under
Brexit the UK will most likely propose
a visa system on essential workers
in exactly the same way that skilled
workers are selected in nearly all of
the world’s advanced nations: the US,
Australia and Canada.
As there are only 3,000 companies in
London’s fintech community the only
limitation will be on their foreign staff’s
access to future benefits, pensions and
free healthcare. Finally, their threat
to move their companies to Paris and
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