24 Reasons to Remain

eason that the government is planning to stock-pile medicines and
food in the event of a ‘no-deal’ (Source: Channel 4 News, 25 July 2018).
Services account for 80% of economic activity in the UK but are
excluded from the proposal Theresa May put to the EU. Why is this
so? Guy de Jonquieres, former World Trade Editor at the Financial
Times believes “that removing barriers to trade in goods – at any
rate tariffs – is much simpler than dealing with those affecting services.
Another reason is Ireland: keeping goods flowing freely between
Britain and the EU reduces the risk of a hard border there. Third, the
government may think that the City of London is so big and powerful
that business will continue to flock to it after Brexit…no country anywhere
has ever managed to conclude trade deals in which services
were the only item on the negotiating table.” (Source: InFacts, 20 July 2018)
What are the alternatives? Theresa May wants a bespoke ‘partnership’
agreement with the EU and is accused of cherry-picking.
“Michel Barnier has said that it is not possible to leave the single
market and keep all its benefits.”
“The EEA option involves considerable access to the single market
(but requires the four freedoms) and contributions to EU spending.
EEA countries (eg Norway) are outside the EU customs union (and)
subject to the EFTA court (not the European Court of Justice).”
“The WTO option would apply in the absence of a negotiated deal
with the EU (the ‘no deal’). This would involve access to the single
market on the least advantageous terms (but with) no contribution to
the EU and no free movement of people...the UK will be able to negotiate
its own trade deals with other countries (but) at the moment,
the UK is bound by a number of WTO trade commitments negotiated
by the EU as a whole.” These, and any quotas, must be unbundled
before the UK can trade under existing deals and “if none of
the WTO’s 163 members object”. (Source: House of Commons Briefing, Brexit: trade
aspects, 9 Oct 2017)
“The single market is a coherent tapestry of economic and social
regulation. Pulling out one strand is very hard to do without changing
the whole picture. So far the EU has been consistent in its commitment
to keep the single market as it is, with a single set of rules
for all.”(Source: M Donnelly, former PS for Dept of Int’l Trade, InFacts, 22 January 2018)
Is it worth damaging the UK economy?