UK Institute of Economic Affairs makes the case for “unilateral free trade” – no ‘ifs’ or ‘buts’
Julian Jessop, Institute of Economic Affairs (IEA) Chief Economist and Head of the Brexit Unit presents a strong opinion on the UK’s future after Brexit:
“The Government should be bold and do the right thing.“
His idea of the right thing? Free trade. In a short film published on YouTube, Jessop makes the case for unilateral free trade. In a world that is, as he mentions, seemingly moving towards protectionism, his is a different perspective.
“It’s a simple idea. It means lowering your own barrier, without waiting for other countries to reciprocate. In practice, this means reducing or even completely removing tariffs that you impose on imports from abroad. This is only possible now that the UK is leaving the EU Customs Union, which requires us to obey EU rules on trade with the rest of the world.”
For a more extensive explanation of IEA’s ideas, they refer to this page (PDF).