The Red Tape Costs of Brexit: What Price Will Businesses Pay for Freedom? – Seminar by Kumar Iyer

Kumar Iyer will be presenting the results of a six month study which led to the report “The Red Tape Costs of Brexit”, with a discussion afterwards. All are welcome.

The findings of the work include an estimate of the annual direct (or “red tape”) cost of WTO tariff and non-tariff barriers of around £27 billion for UK firms (or equivalent to 1.5 percent of GVA) and around £31 billion for EU27 firms (or equivalent to 0.4 percent of GVA) after initial steps to mitigate the impacts have been taken. They are of a similar absolute magnitude but about four times greater for the UK as a percentage of GVA. Furthemore, around 70 percent of the aggregate impact falls in just five sectors in both the EU27 and UK. The clustering of certain sectors means that specific regions are disproportionally impacted, such as London in the UK or Bavaria in Germany.

Kumar Iyer is a Visiting Academic at Hertford College and a Partner at the management consulting firm Oliver Wyman. He has spent most of his career outside of consulting working for the UK Government where his roles include: British Deputy High Commissioner to India and Director General for Economics, Trade & Investment for South Asia at the Foreign & Commonwealth Office; Deputy Director of the Prime Minister’s Strategy Unit in No.10; and Deputy Director of Strategy, Planning & Budget Coordination at HM Treasury. He was previously a Kennedy Scholar at Harvard University, and has an MPhil in Economics from Cambridge University where he was a Bank of England Scholar.

Please note that regretably there is no disabled access to the Baring Room, and there is no parking at Hertford College; the nearest public carparks are https://www.oxford.gov.uk/carparks/

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