CETA better than vassal status, but ‘no deal’ is the best outcome

BREXITEER Peter Bone said ending Brexit negotiations without a final trading deal would harm the European Union far more than the UK because of the large amount of products the EU exports to Britain

By AURORA BOSOTTI

30 Jan, 2018

Mr Bone claimed the European Union has far more to lose from a Brexit no deal than the United Kingdom.

He said: “If we come out of the EU and we haven’t done a free trade agreement with the European Union, we’ll trade on WTO rules.

“That is much more beneficial actually to us than it is to the EU because the EU sends us £80bn more goods than we sell them each year.”

Mr Bone added that leaving the European Union without a deal would present “no problem” for the UK as it would ultimately benefit the UK.

In December 2017 Economists for Free Trade estimated that the UK’s GDP could grow by £135 billion a year simply by ending Brussels rule and going onto WTO rules which govern Britain’s trade with the rest of the world.

The pro-Brexit MP said member states like Germany will need to strike a beneficial deal with the UK in order to protect its exports.

Speaking to Sky News, the Tory MP continued: ” I was at a roundabout earlier yesterday and I looked around and every single car next to me was from Germany. They’ll hardly not want to do a deal. It wouldn’t be in their interest not to do a deal.

“Not having a deal is not a problem, it will probably benefit us. But that’s not what the Government is trying to do. The government is trying to get a free trade deal which is fine as well.

“Either option is completely satisfactory. What we can’t do is sort of carry on indefinitely in some sort of implementation period. That would be unacceptable.”

It comes after a group of pro-Brexit figures penned a letter to Theresa May asking the Government to agree to a similar deal to the CETA (Comprehensive Economic and Trade Agreement) reached between Canada and the European Union.

Moving to a Canada-style trade deal would cover 98 per cent of all goods and 92 per cent of agriculture.

Crucially, it would remove the need for any “transition period”, meaning the UK could enjoy the benefits of Brexit from the end of March 2019.

https://www.express.co.uk/news/uk/911477/Brexit-news-latest-update-today-UK-WTO-trade-EU-European-Union-Germany-video?utm_source=traffic.outbrain&utm

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