EU and UK will both ‘end up poorer over Brexit’

Both the European Union and the United Kingdom will end up with less wealth following Brexit, according to a leading Irish expert on European law.

Prof Gavin Barrett, Jean Monnet Professor of European Constitutional and Economic Law at the Sutherland School at UCD told the Killarney Economic Conference that both the UK and the EU had very different priorities to economic concerns in their negotiations.

He also said the Brexit negotiations are unique in terms of international trade deals, “in that neither party has economic gain as their primary aim.”

“ It’s pretty clear that both sides are going to end up poorer because trade is going to be negatively affected and less trade means less wealth,” he said.

Prof Barrett said that it was clear from the UK perspective that its priority was not trade as it was “getting out of the best international trade deal in the entire world” but its priorities were instead reducing migration, increasing trade with non-EU countries and increasing sovereignty.