The aim of this paper is to provide quantitative information about the position of the UK in the network of global value chains (GVCs) and to discuss its implications for the UK's post‐Brexit trade policy. We find that the UK has become much less integrated into global production networks than other EU countries over the period 2000–14, and is almost unique among EU countries in that the domestic content of its exports increased over this period.
It is now just over two years since the UK’s vote to leave the European Union. Since then, it is fair to say that there has been a confusing barrage of apparently contradictory claims about the state of the economy.
Peter Levell gave a public talk on the topic of "What's the price of free trade?" at the University of Manchester on 23/03/18 to an audience of over 200 people.
This briefing note provides estimates of the falls in consumer prices that could be expected if the UK leaves the EU's Customs Union and reduce its tariffs. It finds that even if all tariffs were abolished, any reduction in consumer prices would be more than offset by the 2% increase in prices that have resulted from the post-referendum depreciation of sterling.
We often think of exports and imports as things made in one country and consumed in another – I export cars to you and import socks you’ve made. In fact the majority of UK exports and imports are now made up of goods or services which are themselves inputs into production. I export engines to your car factory and import cotton to make into socks. This sort of trade is particularly important for understanding the UK’s trade with the EU. In this observation we look at the implications this has for the UK’s future trade policies.
