|Well that appears to answer one main ‘What happens after we leave’ Question|
EU membership has been made redundant by global regulators, according to a new paper from the Adam Smith Institute. Published independently of both the major campaigns, the report reveals that the UK often has little say over EU regulation, as in reality so much of it originates at the global level.
The new paper Global Regulators: Stuck in the middle with EU, written by European Union expert and ASI fellow Roland Smith, lays out how the UK’s ability to influence global legislation would change for the better following an exit from the EU.
Rather than the expected ‘bonfire of regulations’ upon exit, or a situation where the UK is at the mercy of Single Market regulations without having any influence on them, the free-market think tank has highlighted that 80% of Single Market legislation falls within the ambit of existing international organisations and is consequently open to global regulation. The EU itself originates very few market standards & rules, the study shows, despite its sprawling size, and it frequently outsources & copies global agreements verbatim.