Peter Mandelson, the former Labour First Secretary of State, has warned of the dangers of not reaching an agreement with the EU on Brexit. Without a deal he warned of a “national humiliation” if the country had to fall back on WTO trading rules.
David Davis, the Secretary of State for Brexit, had said that there would be no deal, but both Philip Hammond, the Chancellor of the Exchequer, and Amber Rudd, the Home Secretary, warned against such a situation. Speaking on BBC Radio 4’s Today Programme Mandelson said:
“If we were to trade on WTO rules it would wipe out all the rights to trade we currently have in the European Union, it would wipe out all of the preferential access that our goods and services currently enjoy as they are traded in the European Union and this is our largest export market. We would be fighting at the border and it would be a considerably more bureaucratic border as well, jostling for access to the single market with every Tom, Dick and Harry in the rest of the world without our current rights and preferential access. It would be an economic disaster for Britain and a national humiliation. In my view, both the Chancellor and the Home Secretary are right to say that this is unthinkable”.