Fawkes Lifts Off

Lord Bamford, Chairman of JCB, has told the House of Lords that UK businesses would be better off outside the single market, on account of the cost of EU regulations. “If tariffs are the price we have to pay to leave the EU, well so be it,” said Bamford. In doing so he referenced a Civitas report produced this week that projected a £12.9bn annual tariff for the EU in the event of a hard Brexit, compared with a £5.2bn tariff for UK based firms, which could be seen as supporting the UK’s forthcoming negotiations.  JCB announced last month that it was leaving the CBI over the industry body’s anti-Brexit stance.