Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Cato Institute-Recent Op-Eds
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

With Brexit, Britain Is Finally at the Wheel of Its Own Destiny

% of readers think this story is Fact. Add your two cents.


Ryan Bourne

Britain has become the first major country to formally exit the European Union. After 47 years as a member, and with the British people having voted to leave more than three years ago in a referendum, Boris Johnson’s Conservative government has finally made good on the public’s mandate: The United Kingdom’s participation in this pan‐​European political project is over.

,

It is an utterly historic moment. Britain’s elected representatives of the European Parliament have been retired. In fact, the U.K. has departed all the E.U.’s political and administrative bodies. Now, the so‐​called Withdrawal Agreement between Prime Minister Johnson’s government and the E.U. comes into effect, under which a “transition phase” has begun. This sees the U.K. continuing to pay into the E.U. budget and adhering to E.U. single market and customs unions rules until at least the end of December, when, hopefully, a new E.U.-U.K. free‐​trade agreement will be finalized.

As a result, not much will “feel different” when British citizens wake up on Saturday. Business trading arrangements will remain unchanged. Regulations won’t be altered. Free movement of people will, by and large, continue. But in another sense, everything has changed: The U.K. and E.U. will now negotiate their future free‐​trade and security partnerships as governmental entities with no overt power‐​sharing ties. The Britain for the first time in almost five decades, has ceased to be a whining backseat driver in a bigger political club, and instead is at the wheel of its own destiny.

In the immediate term, much focus will be on how the U.K. uses its newly repatriated trade powers in decisions over the shape of the E.U. free‐​trade agreement. Hand‐​wringing about the specific loss of access or new regulatory or tariff barriers to certain markets will result. It may even be that the time frame through December is too short to negotiate the sort of deal both sides want, in which case a transition extension (which must be pre‐​agreed by July 1) will kick in. Expect, if this occurs, “remainers” to ape Brexiteer language and talk of loss of sovereignty — being bound by rules over which Britain has no say.

But Jan. 31 is not about the immediate consequences, or policy decisions made, but where ultimate political authority resides.

Formal exit overcomes a necessary hurdle in moving toward a new U.K.-E.U. economic settlement, yes. And the shape of that relationship has become clearer given Johnson’s thumping electoral victory, and his desire for Britain to exit the E.U.‘s single market and customs union. But it’s about much more than that. The key implication of leaving the E.U. is confirmation that a range of policy powers, for good or ill, will ultimately be returned to Britain, including on trade, immigration, economic regulation, state aid and competition, agriculture and fishing.

After being entangled with the E.U. for so long, and with the U.K. government occupied by the process of leaving, Britain’s near‐​term future will unlikely be characterized by radical policy change, even after the transition ends. But the Britain’s political system will obtain more degrees of freedom — greater domestic powers to independently navigate the shocks that afflict economies and to pursue regulatory objectives regarding new technologies, and devise new laws in an environment more directly answerable to the public.

Brexit was a bet that the U.K.‘s institutions — not least its accountable, flexible parliamentary democracy — would, on net, deliver better outcomes in a changing world than the ever‐​growing centralization of powers in Brussels’s technocracy. Whether that’s true will take years to assess and depend on whether the U.K. embraces openness or accedes to growing global protectionism and state planning.

But right now, we shouldn’t conflate policy choices with the constitutional framework underpinning them. Jan. 31 marked a momentous repatriation of political power, delivered on instruction of the British people.

Ryan Bourne is the R. Evan Scharf chair for the public understanding of economics at the Cato Institute and was formerly head of public policy at the Institute of Economic Affairs in London.


Source: https://www.cato.org/publications/commentary/brexit-britain-finally-wheel-its-own-destiny


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Humic & Fulvic Liquid Trace Mineral Complex

HerbAnomic’s Humic and Fulvic Liquid Trace Mineral Complex is a revolutionary New Humic and Fulvic Acid Complex designed to support your body at the cellular level. Our product has been thoroughly tested by an ISO/IEC Certified Lab for toxins and Heavy metals as well as for trace mineral content. We KNOW we have NO lead, arsenic, mercury, aluminum etc. in our Formula. This Humic & Fulvic Liquid Trace Mineral complex has high trace levels of naturally occurring Humic and Fulvic Acids as well as high trace levels of Zinc, Iron, Magnesium, Molybdenum, Potassium and more. There is a wide range of up to 70 trace minerals which occur naturally in our Complex at varying levels. We Choose to list the 8 substances which occur in higher trace levels on our supplement panel. We don’t claim a high number of minerals as other Humic and Fulvic Supplements do and leave you to guess which elements you’ll be getting. Order Your Humic Fulvic for Your Family by Clicking on this Link , or the Banner Below.



Our Formula is an exceptional value compared to other Humic Fulvic Minerals because...


It’s OXYGENATED

It Always Tests at 9.5+ pH

Preservative and Chemical Free

Allergen Free

Comes From a Pure, Unpolluted, Organic Source

Is an Excellent Source for Trace Minerals

Is From Whole, Prehisoric Plant Based Origin Material With Ionic Minerals and Constituents

Highly Conductive/Full of Extra Electrons

Is a Full Spectrum Complex


Our Humic and Fulvic Liquid Trace Mineral Complex has Minerals, Amino Acids, Poly Electrolytes, Phytochemicals, Polyphenols, Bioflavonoids and Trace Vitamins included with the Humic and Fulvic Acid. Our Source material is high in these constituents, where other manufacturers use inferior materials.


Try Our Humic and Fulvic Liquid Trace Mineral Complex today. Order Yours Today by Following This Link.

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.