The post-Brexit trade plan being advocated by Jacob Rees-Mogg could endanger up to 1.4 million jobs, research published today reveals.

The Resolution Foundation have published an impact assessment of different trade options being advocated by hard Brexiteers.

Their conclusion: ‘no deal’ is a lose/lose situation.

If Britain trades with the EU on World Trade Organisation (WTO) rules, which Brexiteers claim would be fine, prices for everyday goods would rocket:

And that’s where Jacob Rees-Mogg comes in. He backs a plan to unilaterally abolish all tariffs in a bid to keep the cost of living low.

Rees-Mogg is an adviser to the Economists for Free Trade group, which published a widely discredited report claiming this option would boost Britain’s economy.

In an interview published in March, Rees-Mogg argued:

“Ultimately, the option must be to get cheaper food along with cheaper clothing from the rest of the world, and a sensible UK government would look to go to zero tariffs on everything, to go to genuine free trade, because that’s in the interest of both UK consumers and UK businesses.”

But the Resolution Foundation found the “benefits to consumers would be low” from this option.

The report concludes: “Across those goods affected by the tariff cuts prices would fall by just 1 per cent.”

And crucially, it warns any gains in cost of living would be offset by potentially huge numbers of job losses:

“It is important that the government is aware of where job losses may occur. The evidence suggests that 1.4 million people are employed across all the sectors that could be affected by trade liberalisation and that the majority of these are in rural areas and in the Midlands and the North.”

As Liam Fox, the man actually in charge of negotiating Britain’s post-Brexit trade, told us this summer: “It is not our responsibility to protect jobs.”

  1. How are they going to convince other nations to make Free Trade pacts with us if we have already abolished our tariffs? Utter lunacy. There’s a reason the UK adopted tariffs in the 1920s…

  2. just goes to prove we have a wealthy lot in government with no care for the well-being of the rest of the country.

  3. There we have it from Liam Fox. In effect what he is saying is that the provision of an economy that enables the ordinary working public to support themselves and ensure the well being of their families is of no concern of theirs, i.e. the Tory government. Their priority is to maximise the profitability of the economy, at the expense, if required, of the basic needs of ordinary people.

  4. The current government is the worst there has been in modern times the extraordinary observation is that do many voted like turkeys voting for Xmas or lemmings heading for the cliffs the tragedy is that the Brexitters will take us all with them

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