Why No Deal is the only way forward
With her local policies causing nothing but problems for Prime Minister Theresa May, she’s turned attention back to Brexit to bolster support. But now her opposition has sanctioned Brexit too. Jeremy Corbyn promises to get a deal with the EU. May still says no deal is better than a bad deal. The confusing aspect of all this is that the maths is very simple. Assuming we take the Brexit route, there are two options. A Brexit with and without a deal. We know what a Brexit without a deal looks like. Britain reverts to World Trade Organisation (WTO) rules. The EU, under WTO rules, is a nasty place to export to. It has high tariffs and restrictive rules. But much of the rest of the world is not as anti-trade under WTO rules. And with free trade agreements, huge gains for trade could be made which EU membership was hindering. Trade in the rest of the world is growing fast. The point is that the outcome of a Brexit without a deal is fairly predictable, at least in terms of the frameworks we fa...