George Obsorne warns against “protectionism” of Brexit without trade deal

Former Chancellor George Obsorne has warned that leaving the EU without a negotiated trade deal will constitute “the biggest act of protectionism” in the nation’s history.

In a speech to business leaders at a conference for the British Chamber of Commerce on Wednesday, Mr Obsorne argued that the UK cannot rely solely upon trade deals with non-EU countries in the post-Brexit era. He said:

“Let’s make sure that we go on doing trade with our biggest export market,”

“Otherwise withdrawing from the single market will be the biggest single act of protectionism in the history of the United Kingdom.

“And no amount of trade deals with New Zealand are going to replace the trade that we do at the moment with our big European neighbours.”

Central to the Government’s Brexit vision thus far has been a focus upon external trade deals outside of the 28-member bloc, such as a potential agreement with close ally the United States. Prime Minister May has since specifically stated that she would be prepared to leave Europe without the negotiation of a similar deal with Europe, much to the concern of many UK politicians.

Mr Obsorne joins other former UK senior politicians that have come forward to challenge the Government’s Brexit stance following his removal from the treasury following Theresa May’s appointment as Conservative party leader. Former Prime Minister’s John Major and Tony Blair have been particularly vocal about their disagreement with negotiations.

Most recently, Mr Major came forward to condemn Prime Minister May for “misleading” The British people, and painting an overly-optimistic image of post-Brexit Britain. He argued ultimately that: “A little more charm, and a lot less cheap rhetoric, would do much to protect the UK’s interests.”

This comes amid mounting pressure on the Government, over speculation that it is said to be set for defeat in the Lords over Brexit EU citizens’ rights. A strong section of the Lords is anticipated to support a Labour forwarded motion to protect EU citizens rights following the triggering of Article 50.