We could be back in Europe in 20 years, says Osborne

BRITAIN could be back in the EU within two decades, George Osborne has predicted.

The Tory former chancellor said it was ‘not unimaginable’ for the UK to end up in the same trade relationship with Brussels as it had been in before the referendum. Mr Osborne told LBC radio: ‘I’ve come to terms with the result but if you want me to think it was a good idea, I’m not going to think that. It’s caused a lot of damage to Britain’s economy.’

He said he respected Brexiteers who believed the economic cost was outweighed by the UK regaining its sovereignty.

But he added: ‘What was nonsense – and remains nonsense – are the people who say Brexit was a great economic move to benefit the British economy or a great act of free trade. It was the biggest act of protectionism in British history and that is only now really – now it’s fully implemented – becoming clear.’

He said politics could not change the fact that Britain was so close to Europe.

‘I don’t think we’re about to join the single market or customs union – that fight was had over the Theresa May parliament – but, put it this way, it’s not unimaginable for us in 20 years’ time to have a set of economic arrangements with the EU, which aren’t too different to economic arrangements we had when we were in the EU.

‘In the end, Britain’s history is inextricably linked to the fact we’re 20 miles off the European continent and there’s nothing that either Brexiteers or Remainers can do to change that basic fact. Our history is influenced by what happens on the continent and vice versa.

‘Equally, I’d say to the European Union and Paris and Berlin – Britain is a key player in the European debate and you’ve also got to find a way to re-establish that bridge.’