Jacob Rees-Mogg was entirely correct when he stated that the UK would become a vassal state to the EU Superstate (A vassal state is any state that is subordinate to another. The vassal in these cases is the ruler, rather than the state itself). The UK Government is desperate for a “transition” period and is happy to accept the demands of the EU to get an extra 2 years of servitude.
With regard to a transition period, the EU position is VERY clear having been set out in the document: ANNEX to the Recommendation for a COUNCIL DECISION supplementing the Council Decision of 22 May 2017 authorising the opening of negotiations with the United Kingdom of Great Britain and Northern Ireland for an agreement setting out the arrangements for its withdrawal from the European Union.
During the transition period, the UK Government will pay a membership fee (less a rebate of course), no negotiation and certainly no signing of trade deals will be allowed, the ECJ will have full jurisdiction, all existing EU rules will continue to apply, new rules will have to be implemented, the UK will have no say in any decisions made by the EU, the UK will accept the Free Movement of People, they will abide by the rules of The Single Market and The Customs Union and the UK Government will continue to collect tariffs on behalf of the EU.
Er, if that ain’t a vassal state, I don’t know what is, yet, Secretary of State for Exiting the European Union, The Rt Hon David Davis MP seems to think it’s a big joke judging by his reaction to Jacob Rees-Mogg’s assertion. I think it’s all part of the Government plan to keep us shackled to the EU forever.
Yet, if the UK were to leave the EU on 29th March 2019, we would immediately save £13 billion in membership fees. We would also raise around £12 billion in tariffs under WTO rules. That is a £25 billion boost to the UK economy. Of course, there will be losers in the business world when we leave. Our exporters will suffer around £6 billion in tariffs. The banking system would suffer too (estimates vary wildly on this), but we could direct the £25 billion saving to alleviate these problems. In order to trade COMPETITIVELY with the world, we need to QUICKLY overhaul the rules and regulations imposed on us by the EU and we need to negotiate and SIGN trade deals. The sooner we start on this task the better. 2021 is far too late and the transition period will simply give our competitors the edge they need to win.