United Kingdom Prime Minister Theresa May recently announced a tentative deal for the UK’s exit from the European Union after a 2016 national referendum ended in a vote to leave the EU. In the wake of the announcement, two cabinet ministers – Brexit Secretary Dominic Raab and Work and Pensions Secretary Esther McVey – resigned their positions after concluding they could not support May’s proposed deal.
CEI Vice President for Strategy Iain Murray, who won second place at the Institute for Economic Affairs’ (IEA) 2014 Brexit Prize competition with his co-author Rory Bloomfield, said:
“Today’s events in the UK represent the culmination of a slow-motion walk towards disaster. The May government never had any clear idea of what it wanted from Brexit. It rejected the idea of a comprehensive free trade agreement with the EU in favor of closer ties, but also rejected the idea of staying within the European Economic Area as that would have entailed continued unchecked immigration from the EU. As a result it came up with a compromise that ends free movement of labor but binds the UK almost in perpetuity to EU economic regulation and oversight. The Brexit vote was won on the basis of taking back control of law, which means that the May plan represents a betrayal of the Brexit vote".............To Read More....
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