Brexit Uncertainty is a Myth

You don’t need a crystal ball to foresee the result of today’s cabinet summit at Chequers. There has never been any doubt, we are on coure for no deal and that means a hard Brexit with hard borders all round.

Either A) there’s a compromise that will work and all the brilliant minds in government have spent two years looking but can’t find it or B) there’s no compromise that will work. It’s B) if you’re wondering.

The problem is twofold. Even if the cabinet agrees to a fudge today it won’t hold.

The second hurdle is even bigger.

Let’s say just for argument’s sake, two years after the referendum, we agree a plan. It normally takes a minimum of five years to agree and implement a trade deal and in some cases it can take more than twenty. That’s if both sides want a trade deal. The EU doesn’t want one because it would likely lead to the breakup of the EU. So we have one year but we need between five and twenty from the date at which the EU decides it wants a deal, which is likely to be never. You do the maths.

By 2024 we might have struck some deals outside of the EU but we won’t be in a customs union or a single market. It’s not uncertainty that’s the problem it’s that the reality is so shocking it’s difficult to accept.

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