.jpg)
Ahead of tonight's House of Commons vote on Theresa May's Brexit deal,
Nigel Driffield, professor of international business at Warwick Buinsess School, said: “Those who are saying, “Let’s just get this done,” really mean, “Please make this go away”, because whatever form of Brexit we have will lead to 10 years of negotiations and recriminations.
“There has been no serious analysis done of the likely winners and losers. Last time the UK did trade policy, we did a detailed cost-benefit analysis of where we expected to gain and lose.
“It looks almost certain that the Prime Minister’s deal will be rejected by MPs tonight. The government’s priority must then be to avoid a ‘no deal’ Brexit and maintain access to the single market.
“Extending Article 50 would be far from ideal for businesses who are seeking clarity and a basis to form investment decisions, but that delay would be preferable to no deal.
“Those who argue that a “managed no deal” offers certainty could not be further from the truth. In trading terms, there can be nothing more uncertain than not knowing ones trading schedule.
“No deal would render UK firms at a significant disadvantage and will lead firms to conclude that they need to move at least some activities to the EU. It will also make it more difficult for European businesses to invest in the UK economy, which could put almost 20 per cent of current jobs at risk.”
