Jason Moore17/01/2017 00:00
TW
4

I have made my thoughts on Brexit very clear in this space over the last few months, but for once I am willing to give the British government the benefit of the doubt. Theresa May is right to pull Britain out of the single market because otherwise Britain would have to continue with open borders and follow instructions from the European Court of Justice and to some extent the European parliament. It is a bold move which could have big consequences for the British economy but at least there is now some clarity.

Britain now needs to negotiate the best possible deal with the European Union on trade. The single market was always going to be a big problem and by taking it out of the equation May has delivered what could be described as a minor master-stroke. The single market is the biggest cherry on the European Union tree but Britain has decided that this cherry is not in Britain's interest and it is the right decision but it is a major gamble.

The threat of a massive reduction in taxes to lure foreign firms to Britain if the EU doesn't play ball and the prospect of an early trade deal with the US put Britain in a better bargaining decision. May has put the EU on the back foot. For once it is the EU which is under pressure, not Britain. I have always thought that Brexit was a bad idea, but the people of Britain spoke at the referendum and Brexit means Brexit. For once, full marks, Theresa May.