A hard Brexit would, just as its proponents say, allow us to take back control of trade policy. That has been the almost incessant focus of debate in recent months. The economic cost of withdrawing from the single market and customs union would inevitably, and for a very long time, outweigh any potential benefits from any other possible trade deals. That is a simple statement of fact and I don’t propose to waste my time or yours going through that argument again. Lost in the fixation on trade, though, have been other areas where we also would have more control over economic policy outside the European Union than inside.

Source: The Times December 10, 2018 00:06 UTC