The possible options for the long-term economic partnership range along a wide spectrum – from a European Economic Area-type broad-based single market access, through a Canada-type free trade agreement, to the spectre of an abrupt exit from the EU without any deal. Some economists argue that the latter, no-deal scenario would in fact be best for the UK, because that would allow the UK to unilaterally introduce free trade with all countries of the world and deregulate the UK economy. This, in their view, would bring major benefits to the UK. But such views are in minority and received major criticism; see, for example, the clear arguments of Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen. And business leaders intensively lobby for a broad-based trade deal with the EU – rightly so, in my view.

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Bruegel.org (blog)

Optimistic UK business confidence indicators predict smooth Brexit

Some economists argue that the latter, no-deal scenario would in fact be best for the UK, because that would allow the UK to unilaterally introduce free trade with all countries of the world and deregulate the UK economy. This, in their view, would bring major benefits to the UK. But such views are in minority and received major criticism; see, for example, the clear arguments of Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen. And business leaders intensively lobby for a broad-based trade deal with the EU – rightly so, in my view.

http://bruegel.org/2017/12/optimistic-uk-business-confidence-indicators-predict-smooth-brexit/

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