Politeia, December 7, Professor David Collins
Today we see an increasing tendency to make statements like ‘Brexit has failed’ or ‘the UK is worse off since Brexit.’ I believe neither is demonstrably true. But even if these statements were true, as many appear to believe, it is still far too early to pass judgment on Brexit. The full advantages of leaving the EU can be grasped, but this will take many years. In a sense the process is only just beginning.
The Brexit Freedoms Bill is part of this process. It can help bring about efficiencies to the UK economy, potentially counteracting some of the high-tax, low growth policies that present government has embraced. A focus on improving trade with the EU and the rest of the world can also contribute to this goal. FTAs, like the TCA with the EU, should be seen as the beginning of improved relations, not end points. The Bill represents an opportunity to deliver pro-growth regulation by eliminating the wasteful and counter-productive vestiges of EU law.
Breaking free of the EU’s regulatory sphere is probably the single greatest advantage of Brexit. Another important benefit of Brexit are the opportunities it has created in international trade. The establishment of an independent trade policy and with it, the UK’s ability to strike preferential free trade agreements, must be pursued with vigour.
The UK-EU Trade Cooperation Agreement (TCA) was a massive achievement that significantly reduced the trade barriers that would have existed between the UK and the EU after Brexit under WTO rules. We also know that the TCA is far from perfect. Frustratingly there is no automatic recognition of health and safety standards on UK exports by the EU. Mutual recognition for services, including the professional qualifications of service providers is also missing.
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