The Sunday Express said today it is not true, as George Osborne declared, that it would be “very difficult” to make new trade deals. The truth is Britain would be legally entitled to use existing trade deals worth billions of pounds even if the country voted to leave the European Union in June, according to a new report.Osborne said: “The legal position is clear. We’d have to start from scratch, which would take years if not decades.”
But the Express reported: “Written by some of the most eminent legal experts in the field, the Lawyers for Britain research discredits claims by Chancellor George Osborne that the UK would find it “very difficult” to renegotiate trade deals with 27 EU members and 50 global trading partners.
The report was yesterday hailed as a game changer by the independent Institute of Economic Affairs think tank.
But this was rejected by the report’s author Martin Howe QC, one of Britain’s leading EU experts, who yesterday confirmed that, far from having to abandon the deals, “Britain would have existing trade deals in place” from the first day after Brexit.
The report says: “Both the EU and the member states are parties to the free trade agreement with the Republic of Korea, concluded in 2011.
For full details, click on link in first paragraph.