Professor Patrick Minford responds to the Prime Minister’s Florence speech

Responding to the Prime Minister’s speech, Professor Patrick Minford, Chair of Economists for Free Trade said:

“We are extremely disappointed that the Prime Minister seems to have committed to a vague transitional period of ‘around two years’ at this early stage in the negotiations. A transitional deal may not be necessary.

“Britain’s economy could benefit significantly from Brexit if the Government adopts global free trade and opens up the British economy to full competition.

“Delaying Brexit until at least 2021 means delaying the economic benefits leaving the EU brings the British people – improving living standards, creating new, better paid jobs and raising productivity.

“If the EU rejects this offer then rather than making more unnecessary concessions, Britain should be prepared to walk away from negotiations without a deal and without paying the EU a penny.”

ENDS

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