Liberal Democrat European Union spokesperson and former Deputy Prime Minister Nick Clegg has launched the first briefing paper of his Brexit Challenge project, which analyses the options facing the Government if it intends for Britain to retain significant access to the Single Market.
While Single Market access is essential to the British economy, and retaining access remains the best of a series of bad options for the economy post-Brexit, it comes with significant challenges and trade-offs. The analysis shows that even if the Government were able to achieve concessions on freedom of movement, seeking to retain significant access to the Single Market would still mean adherence to its rules and regulations, while not having any control or influence over them. It also concludes that the biggest benefit of Single Market access is the removal of non-tariff barriers, such as shared rules and harmonised standards, as opposed to tariffs.
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