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Chancellor warns British business to 'forget' the EU

Saturday, 18 January 2020 3:12 PM [ Last Update: Saturday, 18 January 2020 3:19 PM ]

Sajid Javid is evasive on the all-important details

The chancellor, Sajid Javid, painted a hard right ideological picture of Brexit today by warning that “there will not be alignment” with the European Union (EU) once Britain leaves in a fortnight.

In an interview with the Financial Times provocatively entitled “Forget staying close to the EU after Brexit”, Javid sends a stern warning to British manufacturing and business by demanding they “adjust” to new regulations.

On the all-important question of impact on British business and manufacturing, Javid said: "There will be an impact on business one way or the other, some will benefit, some won't".

Javid even drew a far-fetched comparison to Japan's car industry as an example of a manufacturing sector which has found success without following EU rules.

His over-confidence notwithstanding, Javid has been evasive on details in so far as failing to outline which EU rules he is planning to drop.

Negative reactions

Immediate reaction to the Chancellor’s hard Brexit agenda has been less than reassuring. The Food and Drink Federation said it sounded like the "death knell" for efficient trade with the EU and was likely to spark food price inflation.

Meanwhile, the Society of Motor Manufacturers and Traders said the automotive industry in the UK and EU was "uniquely integrated" and the priority should be to avoid "expensive tariffs and other 'behind the border' barriers".

Only the Confederation of British Industry (CBI) struck a mildly positive tone by tentatively welcoming the chancellor's "ambitious" vision but with the caveat that the government should not feel it has an "obligation" to depart from EU rules.

Brexit fears

The negative reaction to the Chancellor’s hardline vision is in keeping with warnings last year by the automotive, food and drink and pharmaceutical industries that moving away from key EU rules would be inimical to economic stability.

As the exit date draws near (with just a fortnight to go) fears are growing that the newly invigorated hard right Tory government is going to bring as much dogma as possible into the Brexit process.

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