Officials within the British government and analysts believe May has some strong cards to play. These probably includes trade deals with China which essentially amounts to aligning itself with China’s ambitious silk-road project through which it is aiming to achieve global dominance. It will be interesting to see how May plays her cards while she attempts to have the cake and eat it too.
In a development that underscores Britain’s need for a trade deal with EU and the British parliamentary committee’s asserting itself while making the British government more answerable to its citizens, a parliamentary committee in Britain has made it clear that Theresa May’s government must prove that “no deal is better than a bad deal”.
The British government must demonstrate this by offering an economic assessment on the impact of leaving the European Union with no agreement, said a parliamentary committee in Britain.
The committee comprises of lawmakers from the prime minister’s Conservatives as well as other parties. It has called on May’s government to publish its contingency planning for failing to strike a trade deal with the EU.
May has waltzed in into the unprecedented negotiations with an ambitious game plan: while on one hand she expects a “frictionless” trade and good cooperation with the EU, she also aims to secure control over immigration.
While it might seem to some that she is trying to have the cake and eat it too, she has threatened to walk away from the negotiations rather than accept a “bad” one.
Significantly, May’s government has, so far, not detailed or elaborated on fears among British manufacturers that if her government fails to successfully negotiate a deal with the EU, Britain will have to fall back on WTO rules for its trade with the bloc.
“Without an economic impact assessment of ‘no deal’ and without evidence that steps are being taken to mitigate the damaging effect of such an outcome, the government’s assertion that ‘no deal is better than a bad deal’ is unsubstantiated,” said Hilary Benn, chairman of the Committee on Exiting the EU.
He went on to add, “Parliament must be in an informed position to decide whether a proposed deal is, in fact, better or worse than no deal”.
May has been reticent about what she hopes to achieve during negotiations so as to not to give her hand away.
Lawmakers, analysts and officials within the British government have stated privately that May believes she has some strong cards to play, and hope that EU officials will prefer pragmatism over punishment.
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