UK Chancellor Sajid Javid has warned manufacturing leaders that there will be no alignment with EU regulations once Britain’s exit from the European Union is made official.
In an interview with the Financial Times. Javid said the Treasury would not lend support to manufacturers that favour EU rules as the sector has had three years to prepare for Britain’s transition
“There will not be alignment, we will not be a ruletaker, we will not be in the single market and we will not be in the customs union — and we will do this by the end of the year,” Javid said.
“We’re … talking about companies that have known since 2016 that we are leaving the EU.”
Labour’s David Lammy warned this will be “catastrophic for workers”:
This is not only a disaster for businesses. It's catastrophic for workers and the public services which depend on them too. Brexit will hurt most those communities it claimed to help.https://t.co/exTlcARDZ9
— David Lammy (@DavidLammy) January 18, 2020
Shadow chancellor John Mcdonnell also criticised Javid:
Tory promises of frictionless trade post Brexit prior to election now exposed as not worth paper they were written on. Fears now made real about food price increases & threats to jobs in motor industry & manufacturing.Right Ideology overriding common sense https://t.co/95aJczgVpJ
— John McDonnell (@johnmcdonnellMP) January 18, 2020
Many other people challenged Javid on social media:
Javid demands businesses adjust to new regulations whilst refusing to say what they will be.
How precisely do they do that?
And he wants economic growth to double at the same time?
He’s an idiot.
https://t.co/3pgfitPy0v— Dr Lindsay Maxwell 💙 [email protected] (@ParisDaguerre) January 18, 2020
https://twitter.com/SimonBruni/status/1218461127560105984
#ToryBrexit Britain : 'No alignment' with EU on regulation, Javid tells business to f**k off. Guaranteeing the worst recession in living memory. #bong #bong #bong https://t.co/dwvYgQJwxd
— Simon Gosden. Esq. #fbpe 3.5% 🇪🇺🐟🇬🇧🏴☠️🦠💙 (@g_gosden) January 18, 2020
There is concern among some UK business sectors about leaving the current trading partnership without a new deal to reduce border friction.
Javid admitted that some businesses may not benefit from Brexit, but insisted the UK economy would ultimately continue to thrive in the long-term.
“Once we’ve got this agreement in place with our European friends, we will continue to be one of the most successful economies on Earth,” he said.
Javid aims to sell his vision for Britain’s economy post-Brexit when he travels to Davos next week for the World Economic Forum.
