The government "simply don't have any time to waste on aligning at speed with our largest trading partner", warn campaigners calling for the UK to deepen its trading relationship with the European Union.
Reports suggest that Prime Minister Keir Starmer is planning to introduce legislation to allow the UK to adopt new EU laws without Parliament having to hold a full vote each time.
A report by Frontier Economics, commissioned by Best for Britain, suggests that deep alignment in goods and services could provide a massive boost to the UK economy. Analysis from the report predicts that such alignment would lead to a 1.7%–2.2% uplift to UK GDP in the long run.
Naomi Smith, Chief Executive of Best for Britain, which campaigns for closer UK-EU ties, said:
“With economic growth dangerously sluggish and Trump-induced inflation from the Iran War not yet hitting people’s pockets, one thing is crystal clear. We simply don’t have any time to waste on aligning at speed with our largest trading partner: the one lever our government can pull to not just stem the losses but turn the tide.
“If we fail to deepen UK-EU trade links, the cost of living crisis will only get worse, and voters - who want this solved and the damage repaired - will not reward politicians who waste time with endless Parliamentary votes until the small hours of the morning.”