May, Johnson, Davies & Fox sound akin to the imfamous fake law firm name Dewey Cheatum & Howe as the smoke and mirrors Brexit circus approaches climax this week. 1st stop, the Commons will attempt to strip House of Lords amendments from the bill and in theprocess screw over Eu residents here and an entire nation’s financial future saying, “No Brexit deal is better than a bad Brexit deal.”
We are headed over a cliff, but we are free! That is the short-sighted opinion of all whistling past the Brexit graveyard. The Guardian reported on the real financial and business stakes.
Research commissioned by the Labour MP Pat McFadden – a supporter of Open Britain, which campaigns for continued ties with Europe in the aftermath of Brexit – found that no members of the G20 group of richer nations currently interact with the EU without some sort of trade arrangement.
While not all have a formal free trade agreement (FTA), all the countries at least enjoy bilateral arrangements over access for certain industries, or so-called equivalence agreements, often used to help financial services work within the EU.
The prime minister has previously warned this could happen, using a key Brexit speech in January to argue that “no deal for Britain is better than a bad deal for Britain”.
Boris Johnson went further still on Sunday, arguing that the UK’s economy “would be perfectly OK” if it left without a deal.
“I don’t think that the consequences of no deal are by any means as apocalyptic as some people like to pretend, and actually what we have seen in the budget from Philip Hammond last week are preparations for Britain over the next few years,” he told ITV’s Peston on Sunday programme.
The foreign secretary was immediately contradicted by Carolyn Fairbairn, head of the Confederation of British Industry, who said such a move would be very bad for businesses and “a recipe for chaos on a number of fronts”.