The Opposition favour a close alignment to the EU after Brexit and wish to remain in a customs union.
But according to a new think tank report published by the Independent Economic Forum (IEA), remaining in a customs union with the EU would leave the UK unable to establish an independent trade policy, and render “reclaiming policy areas such as agriculture and state aid an impossibility”.
The new fiscal report predicts that while a permanent customs union would secure supply chains in the short term, the long-term sustainability of the agreement would see the loss of trade opportunities with other countries – and mean higher prices for UK consumers. Express.
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