Alarm at Brussels ‘plot to punish Britain’
A FORMER business minister issued a call to arms against the EU for planning to punish Britain if the economy becomes more competitive after Brexit.
Lord Digby Jones, also a former director of the CBI, said “Remoaners” need to “wake up” to bullying by Brussels and fight its bid to apply sanctions.
He said it shows the bloc is desperate to ensure “a level playing field” to stop the EU’s fragile economy suffering.
The proposals include tax blacklists, measures to prevent state subsidies for companies and other penalties, according to an EU strategy paper.
It follows a study by Economists for Free Trade which revealed the British economy could boom by £150billion a year from Brexit thanks to deregulation, trade agreements and a competitive economy.
The EU paper said: “International rules do not adequately address the distortive effects of subsidies on investment and trade.
“The EU/UK agreement will have to include robust provisions on state aid to ensure a level playing field.”
Reacting to the document, Lord Digby Jones responded: “So the EU wants post-Brexit sanctions on us to prevent us being globally more competitive than them.
“So a monolith aching for a return to the 1970s wants to stop neighbourly competition. Surely we must all fight this. Wake up Remoaners.”
It has added to the case that Britain would be better off without a deal with the EU and move to World Trade Organisation rules instead.
Under WTO rules the EU cannot apply sanctions that are not applied to the rest of the world unless it already has trade deals in place.
Former MP Nick de Bois said: “This latest threat is a reminder why UK voted to leave, not a reason to try to make us stay.”
In contrast to the EU’s stance Donald Trump’s US administration is keen to sign a free trade deal that would benefit both countries.