The Competitive Enterprise Institute’s Iain Murray commented on the results of Britain’s historic vote on whether to leave the European Union. Murray, CEI vice president for strategy, was the co-author of a comprehensive 2014 Brexit road map.
Britain’s surprising vote to leave the European project is only the start of uncertainty and opportunity. Negotiations over the terms of exit will take at least two years, and no one knows what form they will take or what deal can be struck. Brussels, meanwhile, may prove vindictive in an attempt to dissuade other nations from following Britain, which would damage not just Europe’s economy but the world’s. Britain has chosen; now Europe has to choose its future direction.
Murray and co-author Rory Broomfield won second place at the Institute for Economic Affair’s “Brexit Prize” competition. The authors put forward guidelines for withdrawal, focusing on the economic and political consequences and how the UK could position itself as a more independent nation and economy. Specific reform ideas included a regulatory reduction commission modeled on the successful American BRAC commission, a property rights-based program for British fisheries, and an expansion of shale gas.
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