peteblue
Welcome back Wayne
Who's refunding the tariffs paid? Surely the origin of the product dictates the tariff paid not the fact that the company that owns it has a mailbox in the Cayman Islands?
Without financial passporting then the banks and financial institutions have already said they'd be forced to relocate parts of their operations to EU soil
Tariffs are a restriction to trade, hence the reason so many countries spend so much time trying to agree trade deals, spinning WTO tariffs as a benefit should we get landed with them is a view I think is extremely misguided.
The government would refund the tariffs from the additional taxes it would receive from the tariffs they wish to place on incoming goods. In the scenario where the EU sells more to us than we do to them the tariffs would be covered and there is a tax surplus to the UK.
There is no problem in putting some banking operations in Ireland, the London financial centre will continue trading under existing regulatory processes, but as I said, the EU are desperate not to make a mess of this as they would suffer far more than we would.
Of course tariffs are a barrier to trade and if the EU wishes to continue trading with us they will be loath to go down that route.
This is this thought that pervades the remain argument, that the EU holds all the cards. They don't. The idea of punishment of the UK is no longer mentioned. Calmer voices acknowledge that a sensible deal will have to be done. We both benefit if it's done properly, we both can lose if not. Even the out and out EU builders are not that stupid.....