VoxEU Video

Brexit would be a sovereignty own-goal

During the Royal Economic Society’s Annual Conference on 22 March 2016, four panelists discussed the political and economic costs of Brexit. In this video, Richard Baldwin argues that Brexiteers hoping to regain control over their economic policy still think of trade as it was in the 20th century, when goods were made in one place and sold in another. We are not in that world anymore. Domestic political pressures would lead the UK to adopt the 'Norway option' where it would have to obey EU regulations and pay to the EU budget, all without a formal say in the shape of those regulations.