Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

What does BREXIT and leaving the EU on WTO terms actually mean for the UK? Listen to this jargon-busting episode. Word of the Day WTO The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to ensure that trade flows as smoothly, predictably and freely as possible. The WTO has over 160 members representing 98 per cent of world trade. Over 20 countries are seeking to join the WTO. Despite MPs voting against a no deal in March 2019, it still remains the legal default for Brexit until some kind of withdrawal agreement is passed by Parliament. A no deal Brexit would mean we leave the EU, as well as the single market and customs union, and begin trading with the EU on WTO terms. Under WTO rules, countries set their own import rules, so a no deal Brexit means that the government could, in theory,