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We hold all the aces in this negotiation

By June 19, 2017February 18th, 2021No Comments

Once we leave the customs union and inaccurately named single market that does not include services – the major part of the UK economy – and regain control of our borders and laws, hard Brexit, real Brexit, will have been realized.

We should not pay a plugged euro for the privilege of tariff free trade with the EU27. We do not need to. We can trade with them in accordance with WTO rules, just as the rest of the world does and without paying for the privilege like the Norwegians and Swiss, whose economies are so much smaller than ours and lack our global reach.

We can reduce our rate of corporation tax so that major EU27 companies relocate here.

In due course, after striking bilateral trade deals with countries such as the United States, Australia, New Zealand, China, India, Brazil, Mexico, Switzerland and Japan, we shall replace Germany as the world’s fourth largest economy.

This outcome is what the Germans foresee and partly explains their fear and hatred of us as an economic rival. Another reason they and the French are loath to see us leave is that they and the other net contributor nations will need to make up the shortfall in the EU’s budget of £10 billion a year, once we end our annual contribution to the bloc.

In view of the low calibre and lack of patriotism of Establishment politicians, as far as our future trade relations with the EU27 is concerned, no deal is the best deal.