Britain will do well if the country leaves the EU without a trade agreement, writes the Johnson government’s Brexit minister Michael Gove in the newspaper Sunday Times.
– It is not my preferred choice, Gove writes in a post in the newspaper.
– But if the choice is between a solution that binds our hands indefinitely, or an alternative where we can shape our own future, then it is not a choice at all. And going out on Australian terms is an outcome we are increasingly prepared for, it is further stated.
Prime Minister Boris Johnson said on Friday that Britain should prepare for a trade agreement with the EU similar to the one Australia has, which “is based on simple principles of global free trade”, writes Reuters.
Such an agreement means that the United Kingdom will trade with the EU on the terms of the World Trade Organization (WTO). This will lead to increased tariffs and probably considerable price increases.
More than 70 British business organizations, which together represent more than 7 million workers, are trying to persuade politicians on Sunday to resume negotiations and land a deal, writes the Financial Times.
The organizations that have signed the petition come from a number of sectors. The automotive industry, the aerospace industry, agriculture, the pharmaceutical industry and technology are among those represented.