U.K.’s Next Brexit Agony: What Sort of Trade Deal?

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U.K.’s Next Brexit Agony: What Sort of Trade Deal?
Anand Menon said that The key question for the U.K. is: how much worse-off?
Mats Persson said that Do you want to go down the route of Norway, with high tax
and high social protection, and close alignment to European Union rules, or Hong Kong, with free trade and lower regulation?
Persson said that The more Britain is willing to become a rule taker,
Menon said that The European Union is going to make it ever clearer there is a binary choice between Norway and Canada,
Mrs. May has promised to take Britain out of the European Union’s customs union
and single market, and is determined to restrict the right of citizens of countries in the bloc to live and work in Britain, and to reject a continuing role for the European Court of Justice — an institution Brexit enthusiasts loathe.
Mr. Persson, of EY, said Britain could achieve something “short of single market membership
but more than South Korea and Canada,” with some services access included.
Mr. Menon says the need to keep them on board may lead Britain to a deal
that is “not very good.” Mr. Persson is more optimistic, though he acknowledges that curbs on European workers, and an inevitable reintroduction of some customs controls, would cause the British economy to take a hit.


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