The British economy remains “extremely flexible and responsive” according to Brexit stalwart Lord Frost. In a recent essay discussing the way forward for Britain after Brexit, he says he believes Britain still has big strengths. He claims UK growth “outstripped” that of France, Germany and Italy in both 2021 and 2022 and thinks the next few years will be “difficult” for those trapped in a “rickety” and “dysfunctional” Eurozone.
Referring to his thought-piece, written in The American Conservative, Lord Frost states Britain’s economy seemed to hit rock bottom in the 1970s and 1770 with the “post-war economic decline” and the “overlay of EU governance”.
He also states the British government was close to a “nervous breakdown” referring to Brexit under Boris Johnson and then again over economics under Liz Truss. Lord Frost was former Prime Minister, Boris Johnson’s chief Brexit negotiator from 2019-2021. Liz Truss resigned after a turbulent 45 days in office in which her minibudget crashed the markets.
Truss originally said she entered office with a “vision for low-tax, high-growth economy that would take advantage of the freedoms of Brexit”.
Writing in the American Conservative, the former Chief Brexit negotiator said: “Britain continues to have major strengths: internationalism and openness, entrepreneurialism, the tech scene (if it can keep it), world-class science and research, and the City of London.”
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However, the peer writes there is “much to be done” but there is an increasing “nanny-state-ism” in politics.
Lord Frost believes he differs from many when he says the Brexit referendum was a “sign of health” in the British system and “not of dysfunction” adding as an EU member, “Britain got locked into an economic model” that didn’t work for the country.
Looking ahead to an economic solution, Lord Frost says: “Leaving the EU is the first step to dealing with these dysfunctionalities and returning to the strengths of the traditional British systems of governance.” He firmly believes “British politics is still not completely disconnected from public opinion.”
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The peer’s thought piece also focuses on actions to create a national project for Brexit Conservatism, a five to ten-year plan on restoring the “viability of the British state and nation”.
Lord Frost claims it is important to open up the economy to global trade and be serious about nationhood by reducing the scope of devolution, protecting borders, and spending on defence. He believes Brexit Conservatism will get taxes and spending down to normal levels as well as protecting economic and political freedom.
He writes: “You don’t get growth and prosperity without free markets. But people won’t put up with the churn and chaos of properly functioning markets unless there is a feeling of common purpose and project, a sense that we are all, genuinely, in this together.”
He concludes the article by stating Britain “holds its destiny in its own hands” believing Britain will “get on the right path”.
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