International Trade

Ukraine reinforces the case for the Integrated Review

Military commentators have been quick to co-opt the war in Ukraine to their particular cause. In many cases that cause is a retreat from the modernising agenda of the Government’s Integrated Review (IR) in light of Putin’s deployment of traditional armoured forces. Supplying oxygen to these arguments are those not previously cheer-leaders for military spending, such as Jeremy Hunt, who call for a great increase in the defence budget but do not specify on what and why. These arguments are intuitive and seductive; combined, they build a momentum. They are also wrong.  

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Rees-Mogg will need Johnson’s full backing if he’s to deliver regulatory reform

All domestic Covid restrictions in England will end today, marking an important milestone as we emerge from an exceptional period of crisis. The macro-economic response to the pandemic understandably focused on damage limitation and maintaining employment, which has had a significant impact on the public finances. The painstaking work of supply-side reform has either taken a backseat or simply been overtaken by events.

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A Global Maritime Power

The UK is one of the world’s leading maritime nations. As it leaves the European Union, Britain’s status as a leading economic and geo-political power depends upon the strength of its maritime industry. This paper, co-authored by former Transport Minister Nusrat Ghani MP, highlights the difficulties facing the maritime sector and shows how support for our ports, shipping companies, shipbuilders and others can play a central role in the delivery of Government priorities such as the levelling-up agenda, making a success of Brexit, encouraging international trade, and supporting clean growth.

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Theresa May responds to Lord Bew’s Backstop paper

In a Q and A after her speech in Belfast on how Brexit will affect Northern Ireland, the Prime Minister was asked about Lord Bew’s recent Policy Exchange paper, The Backstop Paralysis: A Way Out. Specifically, did she agree with his assessment that the UK Government has not challenged the Irish Government’s narrative on the Good Friday Agreement being under threat.

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International Trade Secretary visits Policy Exchange for a keynote speech

Rt Hon Liam Fox MP, Secretary of State for International Trade, visited Policy Exchange to deliver a keynote speech on free trade and the UK’s place in the world after its departure from the EU.

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Japan’s PM Shinzō Abe confirms Policy Exchange research

Japan would welcome Britain to the Comprehensive and Progressive Trans-Pacific Partnership trade deal “with open arms”, Prime Minister Shinzō Abe told the Financial Times. His remarks confirm Policy Exchange’s recent findings in Trading Tigers, which argued that “UK membership would be attractive to Japan in view of the substantial Japanese investment flows to the UK and the addition of a sizeable market.”

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Latest International Trade Publications

After Brexit: Will Ireland be next to exit?

After Brexit: Will Ireland be next to exit?

In a flagship new report for Policy Exchange, former senior Irish Ambassador Ray Bassett argues that a failure to reach a benign compromise between the EU and the UK in Brexit negotiations risks seriously damaging the Irish economy. So far, the Irish Government has sided firmly with the EU27, but Bassett believes this may be a mistake given how intimately the Irish and British economies are connected. In the event of the UK leaving the Customs Union and the Single Market, Ireland may be forced to follow suit, potentially even seeking its own “Irexit”.

Defying Gravity: A critique of estimates of the economic impact of Brexit

Defying Gravity: A critique of estimates of the economic impact of Brexit

The models used to assess the economic impact of Brexit were misleading, according to new analysis by Dr Graham Gudgin, Policy Exchange’s new Chief Economics Adviser and the co-author of the report. At the time, the projections made by the Treasury, OECD and IMF were used by the then government and Remain campaign to argue that the British economy would face a significant and permanent loss of income in the event of a vote to leave. A careful analysis of the gravity trade economic models used to generate these pessimistic projections suggests that the impact of Brexit on our economy will be much less significant than the economic consensus constructed at the time of the referendum.

Clean Brexit

Clean Brexit

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With a foreword by former Chancellor of the Exchequer Nigel Lawson, and a postscript by former Foreign Secretary David Owen, this major contribution to the public debate sets out proposals for a ‘Clean Brexit’. It is written by Policy Exchange’s Chief Economic Advisor, Dr Gerard Lyons, and leading Telegraph economics commentator, Liam Halligan

Latest International Trade Blogs

The Realities of a US-UK Free Trade Agreement

The Realities of a US-UK Free Trade Agreement

In a piece first published by ConservativeHome, Geoff Raby, Policy Exchange’s Head of Trade Policy, contends that while ‘undoubtedly the UK and USA will be able to negotiate a post-Brexit high-quality FTA’, many ‘major unknowns’ remain as yet unresolved.

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