The EU: should we go back?

Brexit failed. Britain is poorer as a result, trade is harder, investment is weaker, and many of the promises made during the referendum campaign never materialised. The evidence increasingly suggests that the UK economy is smaller than it would otherwise have been, while businesses, universities, scientists, artists and musicians all face barriers that did not previously exist.

As a result, Labour is quietly moving back towards Europe. Keir Starmer talks about closer ties and a reset in relations, and many people now assume that rejoining the European Union is only a matter of time. But is that really the right answer?

This video asks a question that very few politicians are willing to discuss honestly. What would rejoining the EU actually mean? Would it solve Britain’s problems, or would it create new ones? What would happen if the UK was expected to move towards membership of the euro? What would that mean for monetary sovereignty, fiscal policy, democracy and the ability of governments to respond to economic crises?

I argue that Brexit failed, but I also argue that the EU is not without serious flaws. Its fiscal rules, democratic weaknesses, and commitment to neoliberal economic thinking create real problems for member states. That means Britain needs to think carefully before assuming that full EU membership is the only alternative to Brexit.

There may be another way. Countries such as Norway and Switzerland have developed different relationships with Europe that provide access, cooperation and economic integration without requiring full political integration. Could a Norwegian-style arrangement through EFTA and the EEA provide a better route for Britain?

This video explores the options and asks what kind of relationship with Europe would best serve Britain’s future. The answer is not as simple as either Brexit supporters or EU enthusiasts would like to suggest.