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Is a special Brexit Import Tax the Answer?

2,371 views · Published 10 February 2018 · 3:24 · Indexed 25 October 2026

Channel: Jeff Taylor · 2018 · News & Politics

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Hello there, just a short video today - as you can tell I'm a bit under the weather with man-flu, oops sorry, person-flu! Anyway, is an Import Excess Tax the answer to our future trading relationship with the EU?

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Writing in Brexit Central, David Owen, the retired Group Head of Procurement and Project Director of a UK PLC, says that the Import Excess tax (or IET) model could well be the solution to the current road-block in negotiations.

“The Import Excess Tax (IET) model could be a game-changer as it would enable the UK to leave the EU, Customs Union and jurisdiction of the European Court of Justice completely whilst regaining control of our borders and retaining the benefits of a free trade agreement in all but name, yet be acceptable to the EU.”

Saying that the negotiations so far have been "characterised by an exasperating, uninformed sterility of discussion in the broadcast media and an apparent lack of innovative ideas emanating from the Government", he says that the UK has so far played a very strong hand not as strongly as it could have done.

What we should do he says, is unilaterally offer tariff free access for the EU into the UK markets and, if the EU chose not to reciprocate but to impose tariffs on our goods, then an IET system should be introduced by the UK to tax firms where their imports from the EU exceed their exports to the EU.

And the rate of tax could be adjusted to offset the EU tariffs imposed on us, with the system running for maybe five to ten years.

It looks to be a far more simple procedure to implement and does not require a huge great schedule of tariffs to be produced.

"This will be permissible under WTO rules during the post-Brexit adjustment phase and is unlikely to be challenged by the EU." Writes Mr Owen.

I had wondered myself if something like this was possible, so it's great to see a positive proposal put forward, a proposal that I think has great merit and it should be explored further by the UK negotiating team.

I have left a link to the piece in the description box below where you can find more information.

What do you think of the idea? Please leave a comment below, thank you. 

Sources:

http://brexitcentral.com/simple-tax-tweak-strengthen-negotiating-hand/

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