From Great Britain to Little England

Interesting insights from Michael O’Sullivan and David Skilling into what lies ahead for the UK:

Britain chose to leave the EU because it had an outsized opinion of itself. But it will soon have to follow a small-country model, like that of Switzerland or Norway. Forty years after leaving New Zealand in the lurch to join the European Economic Community, the UK might soon have less access to the European market than New Zealand does. Its journey from Great Britain to Little England may well be complete.

The general thrust of the article is that if the UK is to recover from Brexit, then it will have to become a very different country. It’s not like Switzerland or Norway or Singapore. And to date no G20 economy has had to make such a dramatic pivot.