Little Britain – UK plunges into the deep end of the international market

The central motif for the Leave campaign’s agitation for Brexit was that of sovereignty.

As the story went, membership of the European Union entailed a loss of sovereignty in diverse fields, from agriculture, fishing, and domestic economic policy to immigration management, foreign policy, and international trade.

The narrative continued with promises of an independent and resurgent (“Hopeful”) Britain, one, with a hint of nostalgia, that can stand on its own two feet on the world stage.

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The audience was also tantalised with the prospect of a bonfire of EU regulations and the end of the allegedly remote rule of an “unaccountable” Brussels.

There were finally re-assurances that new trade deals would be negotiated, through the World Trade Organisation (WTO), and that Britain could position itself globally (not merely in relation to the EU) as a multi-lateral trading partner.  With the elimination of EU regulations, the UK would have the competitive advantage of a ‘flexible’ economy.

There are many problems with this story, not the least being the very meaning of the word sovereignty.  Indeed, in many senses, Brexit substantially reduces the sovereignty of the UK.  Not only will the new everyday situation be a more costly version of business-as-usual, but Britain itself will also exist in a more dangerous environment of risk.

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