Conservative MP Jacob Rees-Mogg will today continue to talk up the advantages of the UK exiting the European Union without a deal, setting out how trading on World Trade Organisation rules would present “remarkable” advantages for Britain post-Brexit.
He is set to speak at an event hosted by Economists for Free Trade, where he is expected to set out his support for the alternatives to Theresa May’s Chequers proposal.
They are a Canadian-style free trade deal with the EU and a ‘World Trade Brexit’ that would see the UK leave without a deal, but with full freedom moving forward.
Mogg has told The Telegraph: “Leaving the EU on World Trade Organisation terms would lead to a quite remarkable economic advantage for the UK.
“Economists for Free Trade have calculated that a WTO agreement would result in a £1.1 trillion boost to the economy over 15 years, because our trade with WTO countries has grown four times faster than our trade under single market terms.
“Trading on WTO terms has been hugely successful and prices would go down by as much as 8% for some basic items such as food and footwear, meaning it would provide the biggest benefit to the least well-off.”
With around 80 Tory MPs said to be determined to vote against Chequers, will the British government reconsider and focus on a plan that delivers on the referendum result?
The British pubic voted for independence, not to sign up to an EU rulebook.