The Prime Minister's deal 'puts a sledge hammer through our economy'
4 min read
Lib Dem DExEU & International Trade spokesperson Tom Brake MP calls on MPs from all parties to "back the Liberal Democrats in demanding better – vote down this deal, rule out No Deal and demand a People’s Vote".
Leaver or remainer, make no bones about it, May’s deal does nothing much for our trading relationships and it certainly isn’t the sunlit uplands of trade nirvana that Boris Johnson and the Leave campaign promised us.
From day one it has been clear that the Conservative Government don’t understand the complexity of trade agreements. This is still the case even with just four months to go until exit day. It’s only been in the last few days that the Prime Minister has conceded that the frictionless trade we currently have may not be possible if Brexit goes ahead.
As part of the EU we enjoy some of the best trading relationships there are. Not only are we able to trade freely with all 27 other EU countries, but we also have access to deals with over 60 other third countries, including South Korea and Canada. Through these relationships consumers save money and get access to the best quality goods. We don’t have to put up with chlorinated chicken or hormone-fed beef: we have the highest food standards in the world and the EU fiercely defends them.
May’s deal is bad on so many levels. I never thought I’d agree with Donald Trump, but that day is upon us. When Trump said, “they may not be able to trade with us”, he was right. May’s deal leaves us guessing as to what will happen to our ability to trade. One thing is clear though: for at least the next two years we will not be able to do trade deals with the US or anyone else for that matter. We will still be tied to the EU’s trading landscape, but with one fundamental difference: we will be gagged. We will be silent. Currently we are one of the biggest member states in the EU and as such we have a huge sway in shaping what our trade deals look like. For the next two years, or longer if the Conservatives extend the transition period as they have said they might, we will be voiceless. We will be rule takers not rule makers.
Even once we’re through that period, it’s still unclear whether we’ll be able to do new trade deals. The deal May has brought back from Brussels gives no indication of what our future status will be. The Prime Minister would probably want something akin to her Chequers Proposal. That one that was shot down almost instantly by her Conservative colleagues. But if that is what the promised land of Brexit will look like, then Trump is right again. Chequers means that we would have to abide by a common EU rulebook for goods, and therefore any hopes of a new quick deal (albeit one with lower standards of food for UK consumers) is off the table.
It’s not just that May’s deal does harm to our trading relationships; it also puts a sledge hammer through our economy. Figures released just this week show that GDP would be 3.9% lower than it would have been if we remained in the EU. This means that by the 2030s, our economy would be down by around £100 billion. This would be devastating for jobs, our NHS, the number of police on the beat. In all good conscience, I cannot understand why a single MP would vote for that.
Any Brexit will be catastrophic for our trade, which in turn will hit our economy and people’s livelihoods. I went into politics to help improve people’s lives. I would like to think that MPs from all parties did the same thing, in their own way. That’s why I am calling on MPs from all parties to back the Liberal Democrats in demanding better – vote down this deal, rule out No Deal and demand a People’s Vote.
Now that we know what Brexit will actually mean, the people must be able to look at the facts and decide whether that reality is better than what we have at the moment. For commerce and Brexit, uncertainty reigns, but what is now clear is that our trading status would be significantly damaged and our reputation tarnished.
Tom Brake is the Liberal Democrat MP for Carshalton and Wallington. He is the Liberal Democrat Spokesperson for International Trade & Exiting the European Union
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