However, according to a report published by Bloomberg and reviewed by Sky News Arabia, the economy… Britain Smaller now than it would have been if I had stayed in European Union.
The report noted that companies in the UK face more “friction and fewer opportunities”.
The report explained that although Prime Minister Keir Starmer recognizes the importance of improving relations with Britain’s largest trading partner, he will need a better plan to achieve that improvement with the European Union.
Starmer’s predecessor, Rishi Sunak, put the UK-EU relationship on a friendlier footing, including his attempts to resolve the impasse over Northern Ireland’s trade arrangements.
Although Starmer is right to want to build on this, his approach, the report says, lacks the kind of ambition needed to put the UK economy on a path to stronger growth.
Starmer’s party has already ruled out measures that would be truly game-changing – including rejoining the EU single market or customs union.
Although there is an expectation of a review of the arrangements that followed Britain’s departure from the European Union, known as the Trade and Cooperation Agreement, the EU views this as a technical exercise rather than a real opportunity for review.
The report stated that most of the measures aimed at expanding existing trade relations between UK The European Union requires agreement among the governments of the EU’s 27 member states before negotiations can even begin.
According to the Bloomberg report, this is extremely difficult, and these attempts come at a time when the Union is dealing with a war on its borders, tense internal policies, and a growing competitive gap.
For Brussels, the pain of Brexit is perhaps the only value Britain has: Eurosceptic parties across the continent have dropped any mention of Brexit after “Brexit“
However, there are many areas for cooperation where, with a little political will and creative thinking, the two sides could make real progress, in the areas of transport and trade, emissions reductions, visas for young people to work and study, and equal opportunities.
