I’m afraid we’re being lied to. Is it not correct that we’ve been in the EU for decades? Is it not correct that we have implemented countless EU regulations? Is it not correct that UK businesses abide by the laws pertaining to trade with the EU? The Canada deal took years because the EU had to ensure a “level playing field”. Canada had to ensure that their businesses conformed to EU law where necessary. That takes time. A long time. A trade deal with a former member of the EU should takes days, or weeks maybe, but years? I don’t think so.
London is the hub around which the EU financial service sector revolves, but, no matter what the UK Government does, there will be no deal with the EU on Financial Services. You can negotiate for the next 25 years but the outcome will be NO DEAL. The EU needs the expertise of London’s financial centre. The world will not end on March 29th 2019 as some have predicted.
“If the long run cost of Brexit is only 3% of GDP as estimated that represents losing only 18 months of growth. The global financial crisis of 2008 led to GDP being over 10% lower, therefore, on relative terms, although not insignificant, 3% is not a disaster.” David Miles CBE, Former member of the MPC
A transition period based on the Norway model will simply stop us signing trade deals, it will allow millions more EU migrants to settle in our country when presently there are already 24 applicants for every low paid job due to The Free Movement of People. This is madness! I am perfectly aware that the Financial Services Industry in the UK is an important sector, but it is time we stopped talking about re-structuring the UK economy and actually got on with it.
From the Guardian: The same old problems keep surfacing: too small an industrial base; too much debt; too great a geographical divide between the rich south and the rest of the country; too many poorly paid low-productivity jobs.