The agreement reached between the UK and the EU is as good a deal as we were ever likely to get. I will leave others to comment in detail on the legal and technical aspects, but here are five key points (my personal views) on the economics.
First, it important to be clear about the ‘counterfactual’, or what would have happened if a deal had not been done. Opponents of Brexit like to use a rosy view of continued EU membership as their benchmark. But that ship has long since sailed, if it ever existed at all. It makes far more sense to compare the new agreements to the alternative of ‘no deal’. On that basis this outcome is a clear win.
Leaving with what most agree is a ‘fair and balanced’ deal is undoubtedly good for consumer and business confidence. It provides a much-needed boost to the credibility of…
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