Government and Institutions

Prime Minister’s Brexit speech promising, but close regulatory alignment a concern


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IEA reacts to the Prime Minister's 'Road to Brexit' speech

Commenting on Theresa May’s ‘Road to Brexit’ speech, Julian Jessop, Chief Economist at the Institute of Economic Affairs said:

“The Prime Minister’s speech was the right balance of clear principles, hard facts, practical solutions, standing up to the EU, and optimism. There is a lot of work ahead and many details still to be sorted, but plenty to cheer.

The Government is right to aim for a bespoke deal with the EU that respects the result of the referendum and recognises the particular characteristic of the UK, rather than simply copy an existing model.

“The PM was also right to emphasise alternative solutions to the Irish border questions that do not involve remaining in a customs union with the EU. Regaining control of trade policy is one of the most important prizes of Brexit and the opportunity to do so must be seized.

“But there are concerns too. There is still a danger that the UK remains too closely aligned with EU regulations. The UK needs to be free to create a more open and dynamic economy, without being shackled by the EU’s ‘one-size-fits-all’ approach.”

Notes to editors:

For media enquiries please contact Nerissa Chesterfield, Communications Officer: [email protected] or 0207 799 8920 or 07791 290 268.

To read the IEA Brexit Unit’s briefing on how the UK can do better than the EU’s customs union, published in February 2018, click here.

To read more about the work of the IEA’s Brexit Unit, click 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.

The IEA is a registered educational charity and independent of all political parties.

Further IEA Reading: The IEA Brexit Prize: A Blueprint for Britain – Openness not Isolation ; Brexit Prize: Final shortlisted entries



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