One uncomfortable consequence of political longevity is seeing the facts prove some of one's most confident forecasts wrong.
As the trade secretary overseeing Britain's entry into the single market in 1992, I claimed it would wonderfully boost our exports. As I outline in my new paper for Policy Exchange, I was proved wrong. Over our 28-year membership, British goods exports to the EU grew less than 1 per cent a year, while our exports to the 111 countries with which we had no trade deal grew four times as much โ by 87 per cent.
Yet the present Business and Trade Secretary, Peter Kyle, is apparently ignorant of this disappointing experience. He has justified the government's proposed 'reset' of relations with the EU by claiming that โthe single market is where the magic happensโ.
โ๏ธ Peter Lilley
Article |
spectator.com/article/a-brexโฆ