Tim Ross
It’s not the economy, stupid.
Brexiteers are crowing that U.S. President Donald Trump’s decision to hit the EU with tariffs while (probably) leaving Britain out of his trade war proves that quitting the bloc was worth it.
But Brexit was never about economics.
During the 2016 referendum campaign, George Osborne’s Treasury ran a so-called Project Fear strategy of trying to scare voters into backing Remain, with dire warnings that families would be £4,300 a year worse off after Brexit. Voters chose to leave the EU anyway.
A few months later, Osborne reflected that the referendum showed Brits had put economic concerns second and prioritized political change instead.
Voters had wanted to restore Britain’s "sovereignty" and to “take back control,” as the Leave campaign slogan put it, especially over immigration and the courts, regardless of the risk of economic damage.
So while Trump’s hint he will give Britain a pass on punitive tariffs would amount to an economic win from Brexit, that misses a vital point about the politics.
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