Theresa May will tell Japanese investors in Britain that she wants a Brexit transition deal as soon as possible, her spokesman told reporters today. It comes amid fresh debate among business over Brexit negotiations and it follows a government report that claims economic growth in the North East and West Midlands would suffer most. Dr. Andreas Kokkinis, Assistant Professor, School of Law discusses.
“Loss of EU benefits will have a major and long-term negative impact on the UK economy and such impact will only be minimised (but not neutralised) if the UK retains membership of the Single Market.
“The EU plus the growing number of countries with which the EU has free trade agreements (FTAs) is the largest block of free trade in goods and services in the world.
“The UK will lose access to this if the government’s policy of withdrawing from the Common Market and Customs Union is followed and this is impossible to replicate through bilateral FTAs at least within the foreseeable future.”
Dr. Andreas Kokkinis, Assistant Professor, School of Law