CapX, May 19, Patrick Minford
The Remainers are at it again. ‘Look’, they say,’ haven’t we got enough on our hands with the virus crisis? Let’s not add to it the costs of breaking up messily with the EU!’
But once again they have got it the wrong way round. The extra mess would come from staying in the EU’s clutches for another year; and if one, probably at least two.
Hoping the Remainers will succeed in their campaign, the EU is being awkward in the negotiations, making ridiculous demands for us to submit to future EU regulations and to let the EU keep the same fishing rights in our waters that it has now. Of course the EU wants us to stay as long as possible so that they can pocket our budget contributions and control our trade. But we would be mad to agree to any of this. They simply do not see us as a sovereign state.
Faced with the EU’s absurd demands, the only way to bring about a fair free trade agreement is to be willing to walk away, trade under WTO rules, and take back control of our trade, our regulations, our money, our borders and our fishing. As it happens that would bring us big gains.
We can fix free trade deals with the US, and with Commonwealth and Asian countries eager to work with us. These would bring down our prices and create competition, benefiting our consumers and raising productivity. We can bring in new regulations that suit us, reinforcing UK innovation and competitiveness. We can run our own immigration focused on bringing in the skills we need and not on subsidising unskilled workers who push down UK wages.
As for the EU, WTO rules would stop any nonsense at the border, including false illegal claims we do not meet export standards we have routinely met for 40 years, and inspection hold-ups that conflict with WTO seamless border’ requirements.
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