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Old 10.11.2018, 19:50
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

From Jo Johnson:

Indeed, the choice being presented to the British people is no choice at all. The first option is the one the Government is proposing: an agreement that will leave our country economically weakened, with no say in the EU rules it must follow and years of uncertainty for business. The second option is a “no deal” Brexit that I know as a Transport Minister will inflict untold damage on our nation. To present the nation with a choice between two deeply unattractive outcomes, vassalage and chaos, is a failure of British statecraft on a scale unseen since the Suez crisis. My constituents in Orpington deserve better than this from their Government.

What is now being proposed won’t be anything like what was promised two years ago.

Hopes for “the easiest trade deal in history” have proved to be delusions. Contrary to promises, there is in fact no deal at all on our future trading relationship with the EU which the government can present to the country. Still less anything that offers the “exact same benefits” as the Single Market, as David Davis promised, or the “precise guarantees of frictionless trade” that the Prime Minister assured us would be available. All that is now being finalised is the agreement to pay the EU tens of billions of pounds. All that may be on offer on trade is the potential for an agreement to stay in a temporary customs arrangement while we discuss the possibility of an EU trade deal that all experience shows will take many years to negotiate.

Even if we eventually secure a customs arrangement for trade in goods, it will be bad news for the service sector — for firms in finance, in IT, in communications and digital technology. Maintaining access to EU markets for goods is important, but we are fundamentally a services economy. Many in Orpington, for example, are among the two million Britons employed in financial services, commuting into the centre of London to jobs of all kinds in the City. Countries across the world go to great lengths to attract financial and professional services jobs from our shores. An agreement that sharply reduces access to EU markets for financial services — or leaves us vulnerable to regulatory change over which we will have no influence — will hurt my constituents and damage one of our most successful sectors.
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