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Yes “Boris Brexit" can really crash the British Pound and it would it rebound after 10 years. The UK Parliament opposes a No-Deal Brexit and they will force a deal or Revoke Article 50 of the Lisbon Treaty. Boris Johnson is not the problem. It’s Nigel Farage and the Brexit Party who are nipping at Johnson’s heel. Boris Johnson has started his election campaign today because he is trying to out do the Brexit Party to convince the UK electorate to allow the UK to leave the EU with a No-Deal brexit so he thinks that it would make the tory party more electable in the future.Boris Johnson is a buffoon and a habitual liar. The Conservative have a mis-believe that Boris Johnson will help the tories win the next general election. Boris Johnson wants the UK to leave the EU with a No-Deal brexit that would do severe economic damage to the UK. There may have to be a second referendum. If there is a No-Deal brexit then there will be a run on the GB pound(£) as the UK's external debt is US $ 8 Trillion. The exchange rate could end up at GB £5 to US $1. Ford Engine Plant in Bridgend, Wales, is going to close down at the end of 2020.Honda has recently announced that it will close its car plant in Swindon by 2021. Thomas Cook, the world’s first holiday company, announced recently that they lost £1.5 Billion in the last 6 months due to brexit, BMW have now stated that if there is a No-Deal Brexit they will stop Mini Cars production in the UK. Japanese Companies Begin Moving Their Businesses Out of UK as Japan's Foreign Minister Taro Kono has stated that Tokyo is deeply concerned about a no-deal scenario for the UK withdrawal from the EU.If there is a No-Deal Brexit that means that 80% of the UK’s exports to the EU are intangible service products which can be blocked legally because there is no international legal protection for intangible service products. That means that £200 Billion a year to the EU would be lost and an extra £300 Billion a year of intangible service product export to the rest of the world.All countries needs loans and investment to function and if the UK does not want access to the Single Market that means they will lose their financial passport which will deny the UK to sell the service products to the EU. In October 2016 the UK external debt was US $ 9.5 Trillion. Over 2 years it has been reduced by nearly US $ 2 Trillion. All countries needs loans and investment to function and if the UK does not want access to the Single Market that means they will lose their financial passport which will deny the UK to sell the service products to the EU. To pay for foreign imports the UK must pay in US Dollars($), Euros, Chinese Yuan, and Gold Bullion, but NOT GB pounds(£). The UK will not be able to pay back their external debt of US $ 8 Trillion let alone service this debt, and all countries borrows hard currencies especially US Dollars($) for their economy to function smoothly.If there is a No-Deal Brexit the World Trade Organisation(WTO) comes into force. The UK will then have to give a confidence and concession schedule whereby the UK will be given one month to list the goods and the amount of goods they are prepared to import per year. Then the rest of the members of WTO which about 164 countries will be given 3 months to file objection to this list and the quota of the goods that the UK is prepared to import per year. But 20 countries which includes USA, Canada, Brazil, Russia, Australia, Argentina, and New Zealand within one hour will file their objections to the UK's Confidence and Concession Schedule. Then they have to await for the WTO Adjudication for four years. In the meantime they will flood the UK’s economy with cheap food, manufactured products, and cars. This will deplete the UK's US Dollar($) reserves, Euro reserves, Chinese Yuan reserves, other hard currency reserves, and Gold Bullion reserves. It will destroy both the the UK’s farming and car industry. The UK's economy will become equivalent to Albania's economy.The following is from Yahoo News UK:-*Britain 'will run out of fish and chips' under no deal Brexit**. One of the nation’s favourite dishes could be ruined by a no-deal Brexit (GETTY). EU officials warned Britain that traditional fish and chips would be in shortage if a no deal Brexit took place. A treasured dish in the UK, fish and chip lovers would face a ‘crippling shortage’ of the beloved takeaway meal. If the UK left with a no deal Brexit, there would be importation blocks in play, plus EU boats would lose access to British waters and vice versa.**If the UK leaves without a deal, there will be no access to European waters (PA)**. The EU wants the UK to agree to a short-term agreement, giving the EU fleet guaranteed access to British waters until 2019, which the Government has refused. British chip shops would not have enough white fish such as cod and haddock if the relationship broke down. The EU official said: “Currently the UK consumes more white fish than it catches in its waters and could catch in its waters. “Any fish the UK doesn’t catch it will have to import and that will become a trade issue.”.**A senior EU official claimed Brussels would demand Britain pay for a £39 billion Brexit bill, protect citizens’ rights and find a solution to the Irish border issue before reopening talks if no deal happens.*Brexit: A Titanic Disaster | Comedy Central average, 21,000 tonnes of cod in if fished from Britain’s water. But the country imports 110,000 tonnes to keep up with demand. One of the nation’s favourite dishes could be ruined by a no-deal Brexit (GETTY). EU officials warned Britain that traditional fish and chips would be in shortage if a no deal Brexit took place.**A treasured dish in the UK, fish and chip lovers would face a ‘crippling shortage’ of the beloved takeaway meal.**If the UK left with a no deal Brexit, there would be importation blocks in play, plus EU boats would lose access to British waters and vice versa. If the UK leaves without a deal, there will be no access to European waters (PA). The EU wants the UK to agree to a short-term agreement, giving the EU fleet guaranteed access to British waters until 2019, which the Government has refused.**British chip shops would not have enough white fish such as cod and haddock if the relationship broke down.**The EU official said: “Currently the UK consumes more white fish than it catches in its waters and could catch in its waters. “Any fish the UK doesn’t catch it will have to import and that will become a trade issue.”**A senior EU official claimed Brussels would demand Britain pay for a £39 billion Brexit bill, protect citizens’ rights and find a solution to the Irish border issue before reopening talks if no deal happens.**On average, 21,000 tonnes of cod in if fished from Britain’s water. But the country imports 110,000 tonnes to keep up with demand.*

Yes there will be a risk of food and medicine shortage after Brexit.Brexit: Voters firmly reject Boris Johnson’s plan to crash out of EU with no deal, poll findsThe declaration of Michel Barnier, EU's chief Brexit negotiator, that the UK will have to "face the consequences" if it opts to leave without a deal is TRUE. Boris Johnson wants the UK to leave the EU with a No-Deal brexit that would do severe economic damage to the UK. There may have to be a second referendum. If there is a No-Deal brexit then there will be a run on the GB pound(£) as the UK's external debt is US $ 8 Trillion. The exchange rate could end up at GB £5 to US $1. Ford Engine Plant in Bridgend, Wales, is going to close down at the end of 2020.List of countries by external debt - WikipediaHonda has recently announced that it will close its car plant in Swindon by 2021. Thomas Cook, the world’s first holiday company, announced recently that they lost £1.5 Billion in the last 6 months due to brexit, BMW have now stated that if there is a No-Deal Brexit they will stop Mini Cars production in the UK. Japanese Companies Begin Moving Their Businesses Out of UK as Japan's Foreign Minister Taro Kono has stated that Tokyo is deeply concerned about a no-deal scenario for the UK withdrawal from the EU.If there is a No-Deal Brexit that means that 80% of the UK’s exports to the EU are service products which can be blocked legally because there is no international legal protection for service products. That means that £200 Billion a year to the EU would be lost and an extra £300 Billion a year of service product export to the rest of the world.All countries needs loans and investment to function and if the UK does not want access to the Single Market that means they will lose their financial passport which will deny the UK to sell the service products to the EU. In October 2016 the UK external debt was US $ 9.5 Trillion. Over 2 years it has been reduced by nearly US $ 2 Trillion. All countries needs loans and investment to function and if the UK does not want access to the Single Market that means they will lose their financial passport which will deny the UK to sell the service products to the EU. To pay for foreign imports the UK must pay in US Dollars($), Euros, Chinese Yuan, and Gold Bullion, but NOT GB pounds(£). The UK will not be able to pay back their external debt of US $ 8 Trillion let alone service this debt, and all countries borrows hard currencies especially US Dollars($) for their economy to function smoothly.If there is a No-Deal Brexit the World Trade Organisation(WTO) comes into force. The UK will then have to give a confidence and concession schedule whereby the UK will be given one month to list the goods and the amount of goods they are prepared to import per year. Then the rest of the members of WTO which about 164 countries will be given 3 months to file objection to this list and the quota of the goods that the UK is prepared to import per year. But 20 countries which includes USA, Canada, Brazil, Russia, Australia, Argentina, and New Zealand within one hour will file their objections to the UK's Confidence and Concession Schedule. Then they have to await for the WTO Adjudication for four years. In the meantime they will flood the UK’s economy with cheap food, manufactured products, and cars. This will deplete the UK's US Dollar($) reserves, Euro reserves, Chinese Yuan reserves, other hard currency reserves, and Gold Bullion reserves. It will destroy both the the UK’s farming and car industry. The UK's economy will become equivalent to Albania's economy.The following is from Yahoo News UK:-*Britain 'will run out of fish and chips' under no deal Brexit**. One of the nation’s favourite dishes could be ruined by a no-deal Brexit (GETTY). EU officials warned Britain that traditional fish and chips would be in shortage if a no deal Brexit took place. A treasured dish in the UK, fish and chip lovers would face a ‘crippling shortage’ of the beloved takeaway meal. If the UK left with a no deal Brexit, there would be importation blocks in play, plus EU boats would lose access to British waters and vice versa.**If the UK leaves without a deal, there will be no access to European waters (PA)**. The EU wants the UK to agree to a short-term agreement, giving the EU fleet guaranteed access to British waters until 2019, which the Government has refused. British chip shops would not have enough white fish such as cod and haddock if the relationship broke down. The EU official said: “Currently the UK consumes more white fish than it catches in its waters and could catch in its waters. “Any fish the UK doesn’t catch it will have to import and that will become a trade issue.”.**A senior EU official claimed Brussels would demand Britain pay for a £39 billion Brexit bill, protect citizens’ rights and find a solution to the Irish border issue before reopening talks if no deal happens.*Brexit: A Titanic Disaster | Comedy Central average, 21,000 tonnes of cod in if fished from Britain’s water. But the country imports 110,000 tonnes to keep up with demand. One of the nation’s favourite dishes could be ruined by a no-deal Brexit (GETTY). EU officials warned Britain that traditional fish and chips would be in shortage if a no deal Brexit took place.**A treasured dish in the UK, fish and chip lovers would face a ‘crippling shortage’ of the beloved takeaway meal.**If the UK left with a no deal Brexit, there would be importation blocks in play, plus EU boats would lose access to British waters and vice versa. If the UK leaves without a deal, there will be no access to European waters (PA). The EU wants the UK to agree to a short-term agreement, giving the EU fleet guaranteed access to British waters until 2019, which the Government has refused.**British chip shops would not have enough white fish such as cod and haddock if the relationship broke down.**The EU official said: “Currently the UK consumes more white fish than it catches in its waters and could catch in its waters. “Any fish the UK doesn’t catch it will have to import and that will become a trade issue.”**A senior EU official claimed Brussels would demand Britain pay for a £39 billion Brexit bill, protect citizens’ rights and find a solution to the Irish border issue before reopening talks if no deal happens.*

Pre-Covid very well, and as Covid has hit the majority if not all of the economies, that is not due to Brexit. Though even Covid hasn’t knocked Britain too far down the charts, and post Brexit Britain is still a powerhouse.site: UK remains a powerhouse economy: the future is now up to us — brexit-watch.orgSO DRAMATIC has been the impact of Covid-19 that the UK economy has overtaken India’s to again become the world’s fifth largest, according to estimates from the International Monetary Fund (IMF).The World Economic Outlook (WEO) database is created during the biannual WEO exercise, which begins in January and June, and results in the April and September/October publication. On current trends China’s GDP (Gross Domestic Product Nominal) will be within spitting distance of America’s by mid-decade, sooner than previous estimates. These appear to be the figures for the ten largest economies for 2019, 2020 and 2021 (all figures in US$):Rounding up 2020 are: 11. Russia ($1.464 trillion); 12. Brazil ($1.363 trillion); 13. Australia ($1.334 trillion); 14. Spain ($1.247 trillion); 15. Indonesia ($1.088 trillion); 16. Mexico ($1.040 trillion); 17. Netherlands ($0.886 trillion); 18. Switzerland ($0.707 trillion); 19. Saudi Arabia ($0.680 trillion); and Turkey ($0.649 trillion).Treat with caution the predictions for 2021, which set up the path for the next five years. The data seems to suggest the crisis has accelerated China’s economic eclipse of the US. That could change, of course, either from factors within or outside of China (and may be influenced by whoever wins the US Presidential election). Notably, Brazil and India have been hammered by the crisis. Brazil looks to have been irreparably set back.It is perhaps assumed India will recover better thanks to its population size, and capacity to benefit from outsourcing (notwithstanding the rise in automation). Currently however, India is facing China in a border dispute, with tens of thousands of troops on either side and both nations having dug in for winter. Much of the media and population in India appear to be egging on the military, aggrieved at how the virus has set India back while seeming to have little impact on the country it came from. With Pakistan in the mix, any conflict would involve 3 nuclear-armed countries – two led by very nationalistic Governments - and embroiling around 2 billion people.Meanwhile, the French economy is seen marginally overtaking the British economy in 2021, but that appears to centre on Brexit (and we have seen erroneous estimates of France overtaking the UK economy before). The IMF appears to assume Brexit will hit Britain harder than France or Germany. That is debatable and will hinge in no small part on how the UK Government handles it.Countries with stronger industrial bases continue to do better. Japan and Germany appear to retain the number 3 and 4 spots going into the next 5 years. CANZUK would – if unified – continue to represent the world’s third largest economy. The EU recovery depends on Germany, a country whose industry risks falling behind Japan and South Korea in terms of innovation.Interestingly, Sweden – noted for its laissez-faire approach to the virus – will only see its GDP drop from $0.530 trillion in 2019 to $0.529 trillion in 2020, before rising to $0.611 trillion in 2021 (moreover, the 2019 figure was itself slightly lower than the 2018 figure of $0.555 trillion). Readers may know I champion Switzerland’s direct democracy. The Swiss political system may explain why far less draconian measures were imposed in Switzerland than most European nations. Perhaps unsurprisingly, Swiss GDP will actually rise from $0.704 trillion in 2019 to $0.707 trillion in 2020 and will hit $0.790 trillion in 2021.No one knows how trade patterns will change, what innovation will occur and what conflicts will erupt as the 2020s progress. Aside from a brewing conflict between China and India, there is an ongoing one between Armenia and Azerbaijan (threatening to draw in Russia and Turkey).Notwithstanding the success of East Asian countries in dealing with Covid-19, it seems strange that the country from which Coronavirus emanated has seemingly flushed it out. The scale of China’s official GDP increase does seem eye-popping, given the global situation.Finally, Russia’s recovery may prove better than assumed, given its resource base, cohesion, low debt, STEM potential and the possible recovery of commodities. South Korea looks to be on an upward trajectory, while Iran fares well in 2020 and almost made it into the world’s top 20 economies. Central and Eastern Europe appear to take slightly less of a knock this year than Western Europe. Meanwhile, the path of Brexit as well as the extent of continued lockdowns will prove critical for the trajectory of the UK and EU we trade with economies. If ever there was a need for pro-growth strategies, it is now.Below Pre-Covid:There is money waiting to be invested.Brexit Britain's £1bn Investment Bonanza -China’s sovereign wealth fund and HSBC are in talks to launch a fund of up to one billion pounds to invest in British companies. It will be formally announced next year, coinciding with Britain leaving the EU.HSBC said in a statement that China’s fund, the ‘China Investment Corporation‘ is exclusively working with them and a British private equity firm “to create a fund to invest in high-quality and growing UK companies with development opportunities in China.” This comes as figures reveal Britain has the second highest FDI in the world, well ahead of any other EU country. All despite Brexit…We would be able to join a massive free trade area, that doesn’t forbid its members from signing other trade deals, (take note EU)Japan Welcomes Brexit Britain's Bid to Join Massive Global Free Trade Area -Liam Fox is in Tokyo today, visiting another wealthy island nation that does not see the need to enter into political and economic union with its authoritarian continental neighbour.The International Trade Secretary is meeting Japanese PM Shinzō Abe, after Japan’s Trade Minister “welcomed” Britain’s bid to join the successor to the Trans Pacific Partnership, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership on Tuesday. The massive CPTPP Free Trade Area encompasses Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.This is the kind of Free Trade Area that the UK should be joining, unlike the EU it does not presume to legislate for its members, and nor does it prohibit members from making their own global trade deals.Lower prices for consumersNo Deal Brexit + Slashing Tariffs = Reduced Prices -The top line of this morning’s Resolution Foundation report is that lower income households would be stung in the event of a No Deal Brexit should we revert to WTO tariffs. This is a false premise: in a No Deal scenario it is far more likely that the government would unilaterally cut or decline to impose tariffs. Ministers have repeatedly privately said they would propose a policy of unilateral tariff reduction – or even unilateral free trade with tariffs set at zero – in the event of No Deal. The Resolution Foundation looked at this scenario too and found that in a No Deal Brexit where the UK slashed tariffs household spending would be reduced by £130 a year. Look at all those cheaper prices above…Of course this finding is nowhere to be found in the headlines of the Remainstream media, despite being the far more likely outcome in the event of No Deal. There you have it from a centrist think tank: No Deal means cheaper prices. Brexit is about breaking free into global markets, not putting up protectionist barriers to trade…A No Deal would mean wouldn’t need to apply the EU’s common external tariffLeaving the Protectionist Union's 12,651 Barriers to World Trade -The EU’s Common External Tariff comprises 12,651 different taxes and quotas imposed on goods from the rest of the world. This is what the Customs Union amounts to, a protectionist barrier to free trade with the 162 countries outside the EU. Don’t fall for the hype that it reduces trade barriers.Garlic has a 200% external tariff to protect French farmers, tariffs double the price of sugar cane imported by Tate & Lyle from outside Europe. The policy was designed by the EU to boost beet sugar producers in 19 EU countries – at the expense of companies like Tate & Lyle who use cane sugar instead. Some US jeans face a 26% tariff, shoes face 17% tariffs to protect Italian cobblers. Some agricultural products, e.g. beef and dairy, have very substantial tariff rates, 54 dairy products alone have tariff rates of more than 75%. Just a few examples out of thousands showing how British consumers’ best interests are sacrificed to protect European producers from global competition…Regional deals tend to divert trade rather than create it. Although they do lower some barriers, most do nothing to tackle the highest tariffs and each deal tends to enshrine the preferences of its largest members, making it harder to bring regional blocks together within a cohesive set of globally liberalised rules. The EU’s Customs Union only liberalises internal trade within the EU. Free trade will allow us to import raw materials from outside the EU at lower cost and without the tariffs designed to prop up inefficient European industries and high cost agriculture. The single market is really an internal market for 10% of the world’s population, the global market is a much bigger opportunity to be seized…And with all of the Brexit uncertainty the UK has still attracted investment.Brexit Britain: FDI Soaring and Manufacturing Booming -New figures show that growth in Britain’s manufacturing sector is outpacing every other major European nation as the EU is gripped by a slowdown. Manufacturing growth is at a 26-month low in France, and a 31 month low even in powerhouse Germany. Also Italy languishes at a 47-month low…IHS Markit has released its index of factory activity in November where a score of 50 is the cut off point between growth and decline. The UK has risen to 53.1, but the Eurozone as a whole has fallen to its lowest since August 2016, at 51.8.All the while the ONS has revealed that the UK’s inward foreign direct investment (FDI) position increased to £1,336.5 billion last year, a record high. Despite Brexit…UK Second Best in World for FDI -The latest global FDI figures have blown apart the regular Remainer refrain that Brexit “uncertainty” is causing anxious businesses to hold back investment in the UK. According to the most recent UNCTAD figures, far from languishing near the bottom of the table, the UK is currently ranked second best in the world, with $65.5 billion of FDI coming into the UK in the first half of 2018 alone, just behind China on $70.2 billion.The Netherlands lags behind the UK in fourth place with $44.8 billion, while Spain is the only other EU country to make the top ten in eighth with $29.8 billion. Not one of the other 25 EU member states has even managed to secure one third as much FDI as the UK…It is true that experts disagree on this assessment but their track record on prediction relating to Britain and Brexit have not been great so far.2017: The Year 'Experts' Were Completely Confounded -Among all the predictions of doom and recession the remainers and economists got wrong they were right about one in 2016 – the pound did fall 15% after the vote. This was not unexpected, Leave backing donors like hedge fund manager Crispin Odey figured that out and traded accordingly. The pound was widely seen as over-valued.The pessimism on the pound continued into 2017, HSBC predicted it would hit parity with the €uro, Remain backing investment bank Morgan Stanley toppped that with a prediction that the € would surge past parity to be worth £1.02. Brexit-backing economist Roger Bootle’s firm Capital Economics stuck their neck out at the same time and said the £ would finish at €1.13. The pound ended the year at €1.12…Goldman Sachs’ CEO Lloyd Blankfein has been outspoken against Brexit, his firm forecast sterling would fall from $1.25 to $1.14 in 2017. In fact, it has risen to $1.35. Goldmans also forecast that the 10-year gilt yields that determine government borrowing costs would rise from 1.28% to 1.65%. They fell to 1.19%…We were told that banks would leave the City last year, there has been no such exodus, London still has more international banks than any other financial centre in the world. We were told that foreign investors would shuna UK poised to Brexit, yet inward Foreign Direct Investment (FDI) hit a record high in 2017, dwarfing all other EU countries. The experts were absolutely wrong.These same Remain supporting investment banks and international institutions are now predicting that Britain’s GDP will plummet outside the EU. Ironically official figures have just been revised up putting UK GDP growth up with Germany. UK and French GDP has been neck and neck for years, France is actually ahead currently. Guido will wager that in a decade the UK’s GDP will actually be greater than that of France. Any takers among economic experts?The ability to have the type of economy that people in the country want.Two Thirds of Brits Want Low Tax Pro-Business Economy -ComRes has found that the UK is split almost down the middle in almost every aspect of Brexit, apart from what happens next. The polling organisation has found that two thirds of voters say that once the Brexit process is complete,“the UK should try to become the lowest tax, business-friendliest country in Europe, focused on building strong international trade links.”Amazingly this statement is supported by all age groups and all political affiliations, including 54% of Labour Party supporters. The low tax, free trading, ‘alternate economic model’ Brexit Britain the media scoffs at is actually incredibly popular…How about allowing a country to decide what level of VAT to charge on products to it’s own citizen’s with a faster response time than 18 years?For example after a successful campaign in the UK to stop charging VAT on feminine hygiene products, the UK parliament could only reduce this to 5% (per EU rules) it then took 18 years before the UK was allowed to change this to 0% by the EU.The UK would be able to apply a zero rate of Value Added Tax, on items that the EU currently forces members to apply VAT on, without needing protracted discussions with the EU to secure agreement to do so.For instance in the UK a 17.5% (at the time) did apply to feminine hygieneproducts, after a campaign in 2000, the government reduced this to 5% from 1st January 2001 (the minimum the EU would allow) rather than 0% per the campaign and UK Parliament’s wishes. Prime Minister David Cameron then entered discussions with the EU to allow this rate to be set to zero. On the 3rd October 2018, new EU VAT rules that will allow the UK to stop taxing sanitary products were approved by the European Parliament.Due to being a member of the EU it took the UK 18 years to reduce the VAT rate on one category of products from the standard UK rate to zero, if the UK wasn’t in the EU this could have been set to zero in 2001 instead of 5%.Reminder it took the EU 18 years to agree and implement something as simple as allowing feminine hygiene products to have a zero rate of VAT.Source: Tampon tax - WikipediaSo in future if there is a successful campaign to reduce the VAT of an item to zero, this could happen as soon as the campaign is a success rather than 18 years after that campaign.Also the general approach would be able to be tailored to be more innovation friendly outside EU control. From - The unseen benefits of leaving the European Union - CapXIn particular, the precautionary principle, the preferred risk management strategy of EU regulators, places the onus on creators of new technologies to prove their invention is safe where some risk may exist — even if there’s no scientific consensus to suggest any actual harm will occur.The result? It’s often too much bother to innovate.During the 19th Century, many viewed the emergent railways with a great deal of suspicion. As recorded by cultural anthropologist Genevieve Bell, critics of early locomotives believed “that women’s bodies were not designed to go at 50 miles an hour,” and worried that their “uteruses would fly out of [their] bodies as they were accelerated to that speed”. Had Victorian Britain followed some version of the precautionary principle, it’s hard to imagine a single track of rail being laid, given the levels of contemporary railway fear.Of course, moral panic over new technology is nothing new. Now, as in the 1850s, over-cautiousness risks hampering important drivers of future growth.So far, the European Union has made only tentative steps towards regulating artificial intelligence and robotics, though they are currently consulting on the issue. Yet given the EU’s structure, history and current trajectory, the balance of probability suggests AI will be the latest in a long line of missed technological opportunities.Take genetically modified crops. Since their commercialisation in many parts of the world during the 1990s, GM crops have raised the quantity and quality of the global food supply while lowering fuel and energy usage, requiring fewer pesticides, and reducing both soil erosion and carbon emissions — all with no scientifically-documented evidence of harm to human health. And yet, EU-wide precautionary thinking has meant a de facto ban on GM crops, only one variety of which has ever been approved and grown in Europe.While farmers outside the EU continue to develop newer, better technologies, hysteria over man-made pesticides has kept European farming methods behind the times. Ironically, foregoing the GM revolution in insect-resistant plant breeding has left European farmers more reliant on pesticides than ever (as has the ECJ’s foolhardy ruling on genome editing earlier this year).Just last week, the French Finance Minister claimed that EU member states are “very close” to agreeing a counterproductive tax on the turnover of tech companies, a policy likely to discourage new entrants and inflate costs for consumers.Given all the above, how likely are the EU’s hyper-cautious regulators to pursue a different path when it comes to AI and robotics — or will it be “business as usual”, namely — when in doubt, tax and over-regulate? Certainly, initial signs, including misguided calls for a “robot tax” from the likes of Guy Verhovstadt, don’t inspire confidence.andThese may seem like small concerns in the grand scheme of things, but taken as a whole — and the EU creates a whole lot of regulation — it adds up to an environment often hostile to innovation.It’s no coincidence that Europe has lagged behind the US for decades when it comes to new inventions, innovations and entrepreneurship. There are of course important cultural differences between these continents, but much relates to the US government’s comparatively light-touch regulatory approach. Not for nothing are there no tech giants in Europe to rival Facebook, Google, Apple or Amazon.Creating a competitive, innovation-friendly atmosphere is a huge potential hidden “win” of Brexit — with correspondingly huge opportunity costs from failing to do so. Indeed, with more leading universities than the rest of Europe put together, and an already thriving tech sector, Britain has much to lose compared to many of its neighbours.One can only imagine what Frederic Bastiat would have made of things like robotics, AI and machine learning. But I suspect the spirit of his advice would be the same – consider the unseen, and don’t destroy the jobs of the future in a misguided attempt to protect the jobs of today.And would no longer be party to how the EU treats third party countries? Those more in need than its own members?From Pro-EU Guardian and Pro-EU Independent newspapers.The European Union is an ongoing disaster for Africa | LettersEU agriculture policy 'still hurting farmers in developing countries' | Mark TranTrade wars? Africa has been a victim of them for years | Afua HirschEU subsidies deny Africa's farmers of their livelihoodAnd from CapX (not Guardian or Independent)How the EU starves Africa into submission - CapXThere are at least three ways in which EU policies affect Africa’s ability to address its agricultural and food challenges: tariff escalation; technological innovation and food export preferences.African leaders would like to escape the colonial trap of being viewed simply as raw material exporters. But their efforts to add value to the materials continue to be frustrated by existing EU policies.It is reported that the “EU charges (a tariff) of 30 per cent for processed cocoa products like chocolate bars or cocoa powder, and 60 per cent for some other refined products containing cocoa.”The impact of such charges goes well beyond lost export opportunities. They suppress technological innovation and industrial development among African countries. The practice denies the continent the ability to acquire, adopt and diffuse technologies used in food processing. It explains to some extent the low level of investment in Africa’s food processing enterprises.