There is an old joke which defines an economist as someone
who finds something which works in practice and then spends their life trying
to prove it will work in theory. This definition could be used for those who
predict wonderful/appalling outcomes for Brexit – we won’t really know the
effects until well after March 2019.
However, there are a few things which we can certainly posit
with some degree of certainty and one of those is that, whatever transition
deal is made between the UK and the EU it is likely to cause the cost of wine
to rise rather than fall. Why?
