So this has been known for a while - according to all reputable economic forecasts shallow trade deals with the rest of the world cannot make up for losing almost unlimited access to the huge EU market - because 'free trade' deals don't deliver free trade. So to build...
The sovereignty argument - we don't care there will be a 5% hit to the economy because we will have sovereignty. Ok, but what's the argument here, is it total freedom or relatively more freedom to set regulations? That's important because it helps define our options.
The 'Gloria Gaynor' argument - we will survive Brexit. Of course, this is right. But at what cost? Let's say the UK loses most of our car industry, one of our great success stories of the last 30 years. That will be a huge blow to certain communities
The 'anglocentric' argument - we're more like english speaking countries like the US etc. Then it's not about absolute sovereignty, it was just the wrong countries surrounding us. But geography matters, Europe is our neighbourhood.
The 'buccanneering Britain' argument - we can go off and strike better and more appropriate trade deals - particularly with emerging markets and in services. We don't hear much about the second part of this any more from Brexiteers - because it is compatible with a Brexit deal...
Finally the referendum argument - but again that's for leaving the EU, not exactly how you go about doing this. Problem is the notions of purity - Brexit in name only etc
Where this leaves us, as ever. You can leave the EU, with a deal, and balance sovereignty and trade considerations. You could even find focusing on service exports particularly is the way to go on trade policy. But that doesn't work with the Brexit ultras, because...
For some Brexiteers the need for a US trade deal outweighs all other considerations, that is the political imperative. For others it is simply that the EU is fundamentally evil. They cloak that with the word sovereignty. But we urgently need to unpack all of this. /end
