On a day when the press is rightly reporting concern surrounding the decision by a US court to place tariffs on the aerospace and transport company Bombardier, there is no more appropriate time for Dan Hannan to be launching a new group, the Institute for Free Trade (IFT), to restate the benefits of the free market. As Dan explains in BrexitCentral this morning, leaving the European Union gives us a unique opportunity to write a new trade policy from scratch. Indeed, the UK must cast aside the twin threats of Marxist Corbynistas at home and protectionist barriers abroad to succeed after Brexit. To achieve that we need to restate the case in a more appealing fashion to win the argument and ensure the UK can become better off out economically (as well as politically).
Indeed, preparations for leaving the EU were also in the news this morning. As reported in the Telegraph, former Leader of the Conservative Party, Iain Duncan Smith, said that Cabinet ministers must “throw resources” at planning for a no deal scenario and “up the pace dramatically” to ensure that the UK is prepared for this outcome.
IDS has joined a chorus of other voices that want this to happen. Individuals like the former Governor of the Bank of England, Sir Mervyn King, and the entrepreneur, Sir James Dyson, have also called for it. In doing so they reaffirm and understanding that we need to be prepared for the possibilities – and opportunities – that present themselves.
That being said, there was more good news yesterday in that Sir James Dyson announced his company will look to make a new electric car in the UK from 2020. This comes just a couple of months after it was revealed that there has been a record amount of FDI projects formed since the Brexit referendum and shows that domestic entrepreneurs and foreign businesses alike see the potential for a global Britain ahead.
Yet to achieve this, we need to continue to make the case for free markets and free people so that policies which push forward these ideas. The Freedom Association‘s Head of Campaigns, Andrew Allison, does this today in our response to the Bombardier decision.