Brexit moves shine an uncomfortable light on Scotland’s financial future

A recent piece of news which largely passed under the radar, such is the UK’S Brexit obsession, was the fact that the EU and South American economic bloc Mercosur have clinched a huge trade deal after 20 years of negotiations.

It is the EU’S biggest deal to date and aims to cut or remove trade tariffs, making imported products cheaper for consumers while also boosting exports for companies on both sides.

The agreement is set to create a market for goods and services covering nearly 800 million consumers, making it the largest in the world in terms of population. It should be noted that the EU is already Mercosur’s biggest trade and investment partner.

Days later, adding to the irony, the EU and Vietnam signed a long-awaited free trade deal that will slash duties on almost all goods. Both these deals neatly highlight that the EU is one of the world’s great global trading powers, and follow recently concluded trade deals with Japan, South Korea and Canada.

As an EU member state the UK automatically benefits from 40 trade agreements the EU has in place with more than 70 countries. These are trade agreements that on leaving the EU the UK will have to renegotiate, in a world that is becoming increasingly protectionist.

So, while Brexiteers talk of a “global Britain” that will trade freely with the rest of the world, they will soon find out, to the detriment of us all, that not only will this take a considerable amount of time, but any terms agreed will not come close to being a match when compared with the benefits we currently enjoy as members of the EU.

ALEX ORR Marchmont Road, Edinburgh

It’s incredible. Boris Johnson has made all kinds of promises he won’t be able to afford (when tax take falls after Brexit) but he refuses to guarantee our vital Barnett formula (Scotsman, July 1). One can conclude that his right wing nationalist supporters have a barely concealed dislike for Jocks.

Scots have already sustained and maintained a dysfunction al and crude Tory government. To repeat that mistake in the likely forthcoming election will make us look like turkeys voting for Christmas.

Of course, Boris Johnson has made promises on infrastructure spending and on ameliorating Brexit’s harsh impact on certain farmers and fisheries, and no doubt new quangos will be given as long as three months to do spade work, come up with real ferries, and do logistics checking.

It reminds me of Siegfried Sassoon’s poem The General: ‘ ‘He’s a cheery old card’ grunted Harry to Jack/but he did for them both with his plan of attack.’

ANDREW VASS Corbiehill Place, Edinburgh

Your story on Boris Johnson and the Barnett formula states that the SNP claim that ditching the Barnett formula would “slaughter” public services.

There in a nutshell is a very strong case being made for remaining in the UK union – by the SNP! Or do they want ‘independence’ but with the Barnett formula still in place?

COLIN HAMILTON Braid Hills Avenue, Edinburgh