Yahoo Finance Theresa May's Government 'struggling' to prove it can balance out Brexit losses
Theresa May’s Government can’t find any evidence to prove that international trade deals can balance out the trade deficit caused by leaving the single market and customs union after Brexit.
That’s according to Craig Oliver, David Cameron’s former director of communications and a key inside figure during the Brexit campaign, who has claimed a senior Tory minister has told him of the problems facing the Trade Secretary Liam Fox.
“I accept remain lost the referendum, I accept we’re going. But I don’t accept we need ideology,” he said on BBC’s Question Time.
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“I was talking to someone in the Cabinet the other day and they told me Liam Fox is struggling to come up with any evidence that he will do international trade deals that will in any way balance out leaving the single market and the customs union.”
Brexit secretary David Davis has previously said that he hopes a new trade deal will deliver the “exact same benefits” as single market membership.
Later, Mr Oliver gave a revealing insight into the Labour leadership’s approach to Brexit, accusing Labour leader Jeremy Corbyn and shadow chancellor John McDonnell of cancelling meetings at the last minute.
“Labour continues to speak out of both sides of its mouth in terms of Brexit.
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“As someone who sat in the referendum campaign and had people like John McDonnell and Jeremy Corbyn cancel interviews at the last minute and then go on and critique the campaign rather than campaign for it, saying Labour campaigned passionately for Brexit simply isn’t true.”
According to comments made by the EU’s chief negotiator Michel Barnier on Thursday, Theresa May still does not appear to understand how Brexit negotiations will unfold.
Addressing an EU committee in Brussels, Barnier said that there will be “negative” consequences to Brexit, with a “lose/lose situation” for both the EU and UK, which would be worsened if the two sides failed to reach a deal.
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He said: “I have heard some people in the UK argue that one can leave the single market and build a customs union to achieve frictionless trade. That is not possible.
“The decision to leave the EU has consequences and I have to explain to citizens, businesses and civil society on both sides of the Channel what those consequences mean for them.”
