Brexit: Britain to see ‘major boost to trade’ says John Longworth
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Director-General of the think tank Centre for Brexit Policy, John Longworth, insisted the UK can expect major growth without the European Union. Speaking to Express.co.uk, Mr Longworth noted Britain had the flexibility to reduce business and personal taxes. He insisted this was not possible while still being a member of the European Union.
He also highlighted Britain’s trading trends and argued regardless of whether the UK gets new trade deals, it will still be able to thrive.
Mr Longworth said: “Trade deals are not the be-all and end-all.
“In actual fact, 70 percent of the UK’s economy has nothing to do with trade with anybody, it is entirely domestic.
“The advantages of leaving the EU, for example, we can reduce our taxes which the EU would prevent us from doing, personal and business taxes, we can actually get better, less costly regulation.
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“So when it comes to trade deals, only 13 percent and falling of UK business activity is related to the EU out of a total of 30 percent.
“The remainder 17 percent and rising are with the rest of the world.
“Those trade deals around the world are important but not be-all and end-all.”
Mr Longworth also reflected on the possibility of the UK not solidifying new trade deals with key global members like the US.
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He said: “If we don’t get a deal with the United States, there is plenty of opportunity around the world for better deals.
“For example, we have very closely with CANZUK, Canada, Australia, New Zealand and the UK.
“As a grouping, it represents about the size of one-third of the US economy with about half the population.
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“So, that is a significant economic grouping.
“If we join the Trans-Pacific Partnership, which will include those nations aswell, we will have a major boost to trade.
“We also have relations in the Middle East.”
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