It is time to brace for no-trade deal Brexit, says PM Johnson
LONDON (UK) – It is now time to brace for a no-trade deal Brexit, said Prime Minister Boris Johnson on Friday, blaming the EU for declining to negotiate seriously. He said unless Brussels changed tack, there would be no deal.
The no-deal divorce would cause chaos throughout the supply chains stretching across Britain, the European bloc and beyond. This comes as the economy is hit from the pandemic crisis.
During the Brexit summit on Thursday, the EU gave an ultimatum, saying it was concerned by the lack of progress and urged London to compromise on some sticking points or face a rupture of ties from January 1.
“I have concluded that we should get ready for January 1 with arrangements that are more like Australia’s based on simple principles of global free trade,” the PM said.
“With high hearts and with complete confidence, we will prepare to embrace the alternative and we will prosper mightily as an independent free trading nation, controlling and setting our own laws,” he added.
However, the prime minister has still left open the possibility that the bloc could change course and offer a better deal.
“Unless there is a fundamental change of approach, we’re going to go for the Australia solution. And we should do it with great confidence,” he said.
“If there’s a fundamental change of approach, of course we are always willing to listen, but it didn’t seem particularly encouraging from the summit in Brussels.”