Trade, Development, and Immigration

PM right to say UK can lead the world in fight for free trade, says IEA

Shanker Singham responds to the Prime Minister's speech

Responding to the Prime Minister’s speech setting out his vision for a UK-EU free trade deal, IEA Trade Fellow Shanker Singham said:

“It is fantastic to hear the Prime Minister extol the virtues of free trade at a time when protectionism and barriers to trade are on the rise globally.

“The Prime Minister is right to say that the UK does not need to fully commit to following EU regulations in order to secure a free trade deal. Political, trade and regulatory independence is essential if we are to make the most of the opportunities Brexit makes available to the UK as a free-trading nation.

“Control of our regulatory handbook is vital if the UK is to have the freedom to negotiate simultaneously with the EU and other trading partners; maximising frictionless trade with the majority of the world’s population outside the EU, while maintaining a close and prosperous relationship with our near neighbours.

“As the Prime Minister said in his speech, the UK can play ‘multi-dimensional chess’, fighting to pursue free trade in all directions.”

Notes to editors

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For further IEA reading on post-Brexit trade, ‘Plan A+: Creating a prospoerous post-Brexit Britain’ is available here.

The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems and seeks to provide analysis in order to improve the public understanding of economics.

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