UK business should play for extra time in the Brexit negotiations. EPC Commentary, 25 July 2018

Chequers has done nothing to resolve the underlying dilemma in the Brexit negotiations: the closer the UK gets to the least worst economic outcome (a ‘soft’ Brexit), the more it has to break Brexiteer red lines, prompting conflict within the Conservative party and government resignations. The White Paper and ongoing political debate have done nothing to resolve this fundamental predicament, no matter the different scenarios on customs arrangements and proximity to the Single Market that are considered, rejected or revived. The tendency to kick the can down the road on issues offering unpalatable trade-offs, such as the Northern Ireland border or the UK’s future commercial policy, will persist.