Politics
Difference of opinion
With the March deadline for the UK’s departure from the EU inching ever closer, the UK government is expected to unfurl its contingency plans for a no-deal Brexit later today. Many fear near-apocalyptic scenarios should the UK crash out of the bloc without a deal (job losses, medication shortages and prohibitively expensive camembert are just some of the dangers cited); while that might be over the top, the risks should not be understated. Leaving without a trade agreement would mean no transition period for Westminster and Brussels to adjust to the new status quo. Meanwhile, the UK would be subject to WTO rules. Brexit supporters argue that there is nothing to fear from WTO terms but Vince Cable – who leads the pro-Remain Liberal Democrats – told The Monocle Minute that its rules are “very weak” and constitute a “pretty flimsy basis” for future trade. He added: “Leaving the European Union without a deal is a risk – and there doesn’t need to be a risk.”