Free trade and competitive markets have been the biggest force for poverty reduction since the Second World War. The UK must ensure that as it leaves the EU and re-engages with the world, it does so in such a way that allows free trade to benefit the British people, as well as peoples from other parts of the globe.
The Government’s recently released customs paper seeks to ensure that free trade works for the British people by recommending an approach to customs arrangements between the UK and EU, while also allowing us to deepen our trade relationships with the rest of the world.
At the Legatum Institute, we made a series of recommendations in our earlier paper, "Brexit and the Supply Chain". While there has been much focus on arrangements immediately after we exit the EU, the most important thing right now is that we stop negotiating with ourselves and engage with our European partners on the ultimate free-trade agreement with the EU.
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