Former UK chancellor George Osborne says Britain's economy has fallen off a cliff since Brexit and argues that rejoining the EU customs union is the fastest way to reverse the damage. He says the move would not require accepting free movement of people, unlike rejoining the single market.
George Osborne, who served as chancellor under David Cameron and resigned after the Brexit referendum, says the UK's departure from the EU has left the economy poorer than it would otherwise be. He argues that rejoining the customs union, rather than the single market, offers the quickest path back to growth.
Osborne calls customs union rejoin 'simple'
Osborne acknowledges that fully rejoining the EU would be difficult a decade after the referendum, but he says closer ties with Europe can boost growth. He says he would rejoin the customs union, calling it a simple thing to do.
He points out that staying out of the customs union was never a central part of the Brexit debate voters were offered. Instead, he says, it was justified at the time by promises of trade deals with the United States that have since failed to materialize.
A message aimed at Labour
Osborne frames the customs union as an option for the current government to consider without the political cost of accepting free movement, the sticking point that would come with rejoining the single market. He says that if he were Andy Burnham, he would see rejoining the customs union as a straightforward decision on those grounds.
He says people now recognize that reviving trade with the continent and attracting investment are central to solving Britain's growth problem.
Source: Business | The Guardian
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