But, second, and much more importantly, they are not admitting this because very large numbers of jobs will be threatened by scrapping tariffs. The fact is that whilst we might have free trade with the EU we do not with many other nations on earth for very good reason. The tariffs we impose protect UK jobs. Remove the tariffs and those jobs disappear. The biggest gainer will be China, of course.
The government is, unsurprisingly reluctant to admit that this is what free trade means.
As every economist knows trade as no effect upon the number of jobs at all.
It’s entirely monetary and fiscal policy which does – the state of aggregate demand that is.
Trade affects which jobs, not the number of them.
This man teaches economics at a British university. Lucky us.