I don't know much about this so I thought I'd ask.
The money raised from trade tariffs goes to the treasury, along with tax revenues and the like (or at least, I think it does).
What are the likely effects on money available for public spending from
(a) Dropping all tariffs, as sometimes proposed on here
(b) Going to WTO terms and so introducting lots of tariffs we don't currently impose?
I appreciate that these won't be simple, as if cutting tariffs increases trade, there will be revenue raised from that indirectly - and it seems likely that there will be areas where that's true, and others where it isn't, and I've no idea at all how it would balance up anyway!