Economist warns of danger of leaving EU without single market guarantee

Professor Peter Midmore from Aberystwyth University has informed Assembly Members about the challenges for the Welsh Government with a rural policy outside the European Union.

In evidence to the Climate Change, Environment and Rural Affairs Committee, economist Peter Midmore said:

“The most important unresolved question at present is the shape of the post-Brexit trade agreement with the EU-27. Single market access would be the best immediate outcome for Welsh agriculture, because physical market logistics are integrated with continental supply chains. However, the current stance of the negotiating partners does not suggest a speedy or completely liberal outcome.

“In the short to medium term, most-favoured nation access to European markets (that is, in the absence of any immediate UK-EU trade agreement) would, for example, imply a 12.8% tariff plus €1,713 per tonne for sheep meat exports.”

Simon Thomas, one of the Assembly Members quizzing Professor Midmore, advocated membership of single market as the best way forward for Welsh agriculture.

Mid and West AM, Simon Thomas Plaid Cymru’s Shadow Cabinet Secretary for Energy, Climate Change and Rural Affairs said:

“It was disappointing to see Labour AMs vote with UKIP, and the Conservatives against membership of the single market in the Senedd chamber.

“Plaid Cymru is united around what we think is the best deal for Wales and for our rural communities. Access to the single market is not enough. We need membership to the single market in order to really reap the benefits for our farming industry.”