The UK and the EU now need to move promptly on their separate agendas — Commentary
Moving with dispatch means a swift breakout from a vicious cycle of political turmoil, trade uncertainties depressing business investments and economic growth, while an aggressive import penetration keeps edging out domestic product supplies in a highly open economy.
Such a constructive negotiating environment would help London to improve business confidence and the investment climate. That would also strengthen the financial market support for tax cuts and the public spending Britain will need to step up economic growth and get moving toward the promised post-Brexit "golden age."It will be much more difficult to solve structural problems that are currently reflected in Britain's high external deficits.
That means that a large part of any growth stimulus would quickly leak out to the rest of the world. A calculation based on the most recent data shows, for example, that a 1% increase in Britain's GDP growth triggers a whopping 2.7% increase in import demand.
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