What is truly terrifying, as the days tick away to Theresa May’s triggering of Article 50, is how little those in charge have any grasp of what they will be facing. By deciding to leave the single market and the European Economic Area, we are seemingly left with only two options: one that we can negotiate a unique “free trade deal” with the EU; the other that we just walk out, on the basis, in Mrs May’s words, that “no deal is better than a bad deal”.
When David Davis, our minister for “exiting the European Union”, met a committee of MPs last week, headlines centred on his admission that he still hasn’t asked his officials to produce any estimate of the cost of “no deal”. He did at least concede that our financial services would lose their “passporting” rights to continue operating in the EU, that we would lose our EU health cards and drop out of the EU-US “open skies” agreement.
But he also...
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