UK economic boost potential through EU single market access

Labour adviser Nick Boles has urged the UK leadership to strike a deal with European Union leaders to boost the British economy. Boles proposed the creation of a ‘European Confederation,’ which would offer benefits such as single market access and youth mobility without requiring the UK to adopt the Eurozone or accept free movement.

Research conducted by Frontier Economics and commissioned by the campaign group Best for Britain suggests that rejoining the EU single market could provide a £92bn boost to the UK's GDP. The study indicates that at least 90 per cent of the economic damage caused by Brexit could be recouped through such reintegration.

Tom Brufatto, executive director of policy and research at Best for Britain, stated that polling shows voters, particularly those supporting Labour, prefer EU membership due to the potential economic gains.