George Osborne urges UK to rejoin EU customs union amid economic slump

Former UK Chancellor George Osborne called on Saturday for Britain to rejoin the European Union's customs union, stating that the move is necessary to reverse economic damage caused by Brexit. Speaking in an interview with The Independent, Osborne described the post-Brexit economic landscape as a mess and asserted that the British economy has fallen off a cliff since leaving the EU framework. He noted that joining a customs union was never explicitly part of the original Brexit debate because no one knew the country would leave.

The former politician emphasized that the proposed trade deals with America, which were used to justify leaving the customs union at the time, now appear fanciful given current realities. While acknowledging that rejoining the full European Union remains difficult a decade after the referendum, he suggested that closer ties with Europe could boost the economy without requiring the acceptance of free movement of people. Osborne directed his comments toward Labour leadership candidate Andy Burnham, stating he did not see why Burnham would not choose to rejoin the customs union if he were in charge.

David Bannerman, a prominent Brexiteer and former MEP, criticized Osborne by referencing past predictions made during the referendum campaign, including a threat of £35bn tax rises if Brexit succeeded. The editorial response from The Independent supported Osborne's analysis, noting that while he suffers from being too clever for his own good, his observation that Brexit has resulted in utter chaos contrasts with the relative stability of his tenure with Cameron. It noted that new trade deals with countries like India or South Korea are worth only a fraction of the value of a customs deal with the EU.

He characterized the decision as straightforward because it would allow for the revival of trade with the continent and attract investment without ... He also highlighted a conspiracy of silence among politicians, business leaders, and union figures regarding the need to rebuild links with the EU. The newspaper argued that a bespoke customs deal similar to Theresa May's original proposal could mitigate prosperity damage without requiring full...