// Thoughts for February


dawn, start telling mon ami Barnier just how much more expensive French agricultural produce will be as against its Indian or South African rivals as of a week next Wednesday and ask him what is the correct French word for "uncontrollable riot on the Champs Élysées".


The UK would earn an estimated £12 billion in import tariffs, offset by the extra £6 billion UK exporters would be liable to pay. Add that to the removal of the payments the UK makes to the EU and we're talking nearly an additional percentage point in GDP growth. Given the large trade surplus Germany runs with Britain, businesses in the major EU economies will get it and zero tariffs in both directions, but with the UK out the Single Market and Customs Union are very much achievable. Only five EU countries run a trade deficit with the UK and they're not the major players.


All it requires (if you'll forgive the use of an expression from an EU member state) is cojones. Spherical objects Mrs May! Tell your Civil Servants (there's a clue in the second of those two words as to what they're meant to do) to get tough and then tougher. As LBJ, that excellent Presidential deal-maker in the White House said back in the sixties as he railroaded stuff through Capitol Hill: "Do you really want to be on the wrong side of history?"


For history will mark down the 21st as Asia's century. Supported with a more competitive currency the UK can go out and be what its DNA has given it, the ability to be a great, independent trading, investing nation. Our political stability, the liquidity of our markets, the attractiveness of our assets, the Rule of Law, the tolerance of our way of life and our openness all point to the continued attraction of our currency whilst its revaluation (not necessarily leading to inflation if productivity enhancement and price absorption by importers keeps that in check) enhances our competitiveness.


Once the fox of the EU negotiators has been shot, once they have nothing to offer us that we want (that's what "we don't want your Single Market" means) then the balloon of their arrogance, of their wish to punish those daring Brits, loses its air. And then some common sense will flavour the conversation; it is in no-one's interests to be in that position.


And perhaps, just perhaps, another realisation will dawn...that if there was not this staggeringly shortsighted worshipping of an out-of-date Treaty, they wouldn't have been in this position in the first place!


Lord Digby Jones


Lord Digby Jones was Director-General of the CBI 2000-2006 and Minister of State for UK Trade & Investment 2007-2008. He is involved in many businesses that trade in the EU and around the world.


Find solution on page 120 / 59


Fill in all the squares in the grid so that every row, every column and each of the nine squares contain all the numbers 1-9!


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