FTA only possible route for UK – here’s a timely reminder of how that will impact the regions
Donald Tusk has today confirmed that a free trade agreement (FTA) on goods with no tariffs is the only possible route for the UK’s exit from the European Union.
The President of the European Council said the EU does not want to build a wall with Britain, but Brexit means “we will be drifting apart”.
He said the EU wanted an “ambitious and advanced” free trade agreement, but the UK’s red lines limit what it can get from the final Brexit deal.
Tusk said: “Our agreement will not make trade between the UK and EU frictionless or smoother.
“It will make it more complicated and costly than today for all of us. This is the essence of Brexit.”
He said it would be the first time in history that a free trade agreement would “loosen, not strengthen economic ties”.
Here’s how an FTA will impact UK regions.
Confirmation: Brexit heading for FTA.
A reminder of the govt’s predictions of impact on growth of FTA in your area:
W Mids: -8%
E Mids -5%
Worst UK fall in 2008 crash: -2% https://t.co/2KPWgS2JH6
— Seb Dance MEP (@SebDance) March 7, 2018