Delay, the 5th element

So, after much expectation, yesterday the Government announced it was delaying import checks on EU goods until January 2024.

This is the 5th such delay.

Reason for the delay: cost impacts on inflation.

I mean, who would have thought that putting up barriers to trade with your closest and largest partners would increase costs?

Just about everyone who undertood trade, which exludes most from May's, Johnson's Governments and most of the ERG.

There are two types of barriers to trade:

1. Tariffs

2. Non-tariff barriers.

I learned very early on in this Brexit adventure that anyone who talks about trade only in terms of tariffs reallys doesn't understand trade. That that means you, Boris Johnson!

Non-tariff barriers is a catch-all phrase for any legal and/or statuatory regulations that have to be complied with, these can and frequesntly dwarf costs of tariffs. A customs union elminated non-tariff barriers to facilitate trade between union members, say like the EU. Simplifies paperwork, and when tied to a single market, companies and people in all member countries can trade with others in all other member states as easily as if they were in the same country.

It is that what Brexit destroyed, and that whoch is so far been partly responsible for food inflation, and will continue to do so, as more and more checks and costs are piled onto our imports.

Will checks and inspections be delayed a 6th time in January? I wouldn't bet against a delay.

Remember kids, policy is really, really hard.