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Brexit: A Cliff Edge or a Small Bump in the Road?
Author(s) -
Whyman Philip B.
Publication year - 2018
Publication title -
the political quarterly
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.373
H-Index - 37
eISSN - 1467-923X
pISSN - 0032-3179
DOI - 10.1111/1467-923x.12478
Subject(s) - brexit , cliff , negotiation , opposition (politics) , prime minister , political science , political economy , economy , economics , international trade , european union , law , geography , politics , archaeology
Abstract It is becoming increasingly accepted, not least by the Prime Minister and opposition leadership, that the negotiation of a comprehensive trade relationship with the EU is necessary to prevent the UK economy falling off a ‘cliff edge’. This concern is shaping the UK 's strategy towards negotiations with the EU and has provided at least part of the motivation for the UK to consider requesting a transition period to facilitate the Brexit process. But how accurate are these fears? What evidence is there for the existence of a ‘cliff edge’? How disastrous would it be for the UK to revert to trading with the EU on the same basis as most other countries in the world, namely according to World Trade Organisation rules? This article seeks to address these issues and it highlights a number of implications for policy makers which flow from understanding the available evidence a little more clearly.