Jeremy Corbyn, the Leader of the Opposition, has confirmed in a speech made today at Coventry University that the Labour Party will back the UK’s membership of a customs union. The decision means that the Conservative Party may now struggle to get their legislation through the House of Commons due to a number of MPs who support remaining in the union.
“During the transition period, Labour would seek to remain in a customs union with the EU and within the single market. That means we would abide by the existing rules of both. That is so the government, businesses and workers only have to make one adjustment, from the current situation to the final terms”.
“Labour would seek a final deal that gives full access to European markets and maintains the benefits of the single market and the customs union as the Brexit Secretary, David Davis promised in the House of Commons, with no new impediments to trade and no reduction in rights, standards and protections.
We have long argued that a customs union is a viable option for the final deal. So Labour would seek to negotiate a new comprehensive UK-EU customs union to ensure that there are no tariffs with Europe and to help avoid any need for a hard border in Northern Ireland”.
Carolyn Fairbairn, the Director General of the CBI, welcomed the decision and said that it “put jobs and living standards first by remaining in a close economic relationship with the EU”. Liam Fox, the Secretary of State for International Trade, criticised the Labour leader and said “Labour’s confused policy would be bad for jobs and wages, it would leave us unable to sign up to comprehensive free trade deals, and it doesn’t respect the result of the referendum”.