Some UK politics related to Brexit (what else?). Amendments to the Taxation (Cross-Border Trade) Bill
In effect the bill:
- No Northern Ireland customs border
- No fast track capacity to form customs union
- UK will leave the EU VAT regime
- Limits capacity to collect tariff revenue for EU without reciprocity
This was a 4 part amendment, passed with government support.
In effect it could very well make the prospect of a negotiated deal with the EU less likely. It stops UK collecting tariffs for the EU unless there is a reciprocal arrangement.
That's it in a nutshell. I guess there is more excruciating detail, and ifs and buts …. if you like to add any in the comments please go ahead.