In case you missed it, Hammond has caved in. Hard Brexit it is.

[chopper]

[2] Leave the EU, join EFTA and remain in the EEA.


Do all EU states have to ratify this or just EFTA states?

We are already EEA members, so actually remaining in the EEA is trivial. As for (re)joining EFTA, I think that would need ratification - but only four countries to contend with. The dilemma is that the current total EFTA population is about 1/4 of the population of the UK. The GDP of the UK is several times larger than the GDP of the existing EFTA members combined (although the UK has the lowest GDP per capita). The UK's membership of EFTA would massively change its dynamic. Would we expect an equal say, or a greater say given our larger population and GDP and therefore what we bring to the table?

[darmstadt]

We are already EEA members, so actually remaining in the EEA is trivial. As for (re)joining EFTA, I think that would need ratification - but only four countries to contend with. The dilemma is that the current total EFTA population is about 1/4 of the population of the UK. The GDP of the UK is several times larger than the GDP of the existing EFTA members combined (although the UK has the lowest GDP per capita). The UK's membership of EFTA would massively change its dynamic. Would we expect an equal say, or a greater say given our larger population and GDP and therefore what we bring to the table?

The old EEA subject again. There's no real point in being in the EEA and not in the EU, the EEA agreement covers the adoption of EU legislation in the agreed policy areas including the four freedoms, but not areas including policies such as those relating to agriculture, social and employment law, justice and home affairs.

The EEA comes with being bound by the bulk of EU legislation, being part of the EEA does not enable non-EU members to vote when decisions are made and laws are passed about how the single market operates.
EEA membership comes with the right to sit on certain committees and comment on some areas of EU policy only - members have no formal say on what gets decided.

Also, the financial services sector could also be hampered by the lack of cohesion regarding regulation across the single market that sees members unable to sell their services across all single market members.

In fact, if the UK were do as the Norwegians do and participate through membership of the EEA, the UK will have to pay to access the single market by contributing to the EU through an EEA grant - and the cost is significant.
Indeed, despite not having a say in its legislation, the UK would still be one of the biggest funders of the EU.

Wouldn't really gain much...

[northernladyuk]

The old EEA subject again. There's no real point in being in the EEA and not in the EU, the EEA agreement covers the adoption of EU legislation in the agreed policy areas including the four freedoms, but not areas including policies such as those relating to agriculture, social and employment law, justice and home affairs.

The EEA comes with being bound by the bulk of EU legislation, being part of the EEA does not enable non-EU members to vote when decisions are made and laws are passed about how the single market operates.
EEA membership comes with the right to sit on certain committees and comment on some areas of EU policy only - members have no formal say on what gets decided.

Also, the financial services sector could also be hampered by the lack of cohesion regarding regulation across the single market that sees members unable to sell their services across all single market members.

In fact, if the UK were do as the Norwegians do and participate through membership of the EEA, the UK will have to pay to access the single market by contributing to the EU through an EEA grant - and the cost is significant.
Indeed, despite not having a say in its legislation, the UK would still be one of the biggest funders of the EU.

Wouldn't really gain much...

There is on point in leaving the EU. This is damage limitation. But I think UK is going to screw this up much more than that.

[BlasterBates]

Nigel Farage on LBC infuriated and claiming that the proposed transitional arrangement is the beginning of the great Brexit betrayal..

[SueEllen]

Nigel Farage on LBC infuriated and claiming that the proposed transitional arrangement is the beginning of the great Brexit betrayal..

How does he expect us to get out in 2 years?

[northernladyuk]

Nigel Farage on LBC infuriated and claiming that the proposed transitional arrangement is the beginning of the great Brexit betrayal..

Wouldn’t it be terrible if we were really like Norway and Switzerland? Really? They’re rich. They’re happy. They’re self-governing.

Nigel Farage, Ukip leader

[chopper]

Nigel Farage on LBC infuriated and claiming that the proposed transitional arrangement is the beginning of the great Brexit betrayal..

If we're out of the EU, but in a way that makes Farage mad, then that's a good thing.

[northernladyuk]

If we're out of the EU, but in a way that makes Farage mad, then that's a good thing.

He's threatened to put on a brown shirt and arm himself.