The UK Prime Minister, Rishi Sunak has removed the Swiss-style trading deal to improve the UK’s trade with the European Union. This decision of Sunak will remove the barriers in trade with the EU and will provide exceptional benefits to Great Britain. UK PM Rishi Sunak announced this during the CBI Conference held in Birmingham. Since Britain's exit from the European Union, the country has suffered from serious economic fallout as a significant chunk of the country's trade are still with other countries from Europe. During such a situation, Sunak’s statement that the Brexit deal has offered many benefits and opportunities to the UK has received some serious criticism. Sunak even said that the UK will not engage in any post-Brexit relationships with the EU if it means following the EU laws.
Switzerland currently operates within the European Economic Area for trading purposes. But to do so, Switzerland needs to follow all the trading laws and regulations set by the European Union. This is known as the Swiss-style trade deal which many of the MPs in the UK were suggesting as a means of softening the British exit and allowing smooth trade with the EU members. A Swiss-style deal for the UK would have improved the trade and migration across the country and EU members. But Sunak in his statement said that the control over migration was one of the prime benefits offered by Brexit. He said that he voted for Brexit to happen and that he is in complete favor of Brexit. While addressing the CBI Conference, Sunak said that Brexit has offered and will offer many benefits and opportunities to the UK while allowing the country to have superior control over its borders. In his statement, Sunak added that instead of focusing on the trade deals from the EU, the UK now has many opportunities to trade with the fastest-growing economies from all over the world.
Many government officials and parliament members who supported Brexit were worried when they heard that many senior government officials were looking for a softer Brexit that will follow the Swiss-style trade deal. Simon Clarke, the former minister of the UK government tweeted regarding his concerns over the Swiss-style trade deal to smoothen Brexit. He said in his tweet that he is strongly hoping that this is not something that is being taken into consideration as Brexit and all the related questions have been resolved already in 2019. Chancellor Jeremy Hunt was the one to support the idea of having a Swiss-style trade deal to improve the UK's trading with the EU members. He said last week that with such implementation, the UK will be able to remove the trade barriers with the EU members and that having trade with the neighboring countries will greatly benefit the UK. During his Autumn Statement, Chancellor Jeremy Hunt mentioned that the UK is suffering from recession and in the future, the country’s economy is bound to shrink even more. The statement was later backed by the Office for Budget Responsibility, which said that the Brexit deal has had significant impacts on the country’s economy.
