Progress to date: Beneficial Alignment
Beneficial Alignment, between the UK and EU is a key recommendation from Trading our Way to Prosperity: a Blueprint for Policymakers. The UKTBC is calling for the UK Government to adopt a general policy of regulatory alignment with EU standards and protections, where it is in the UK’s interests to do so.
Read the recommendation in full here.
To manage the policy of Beneficial Alignment, the UKTBC is also calling for the creation of a joint UK-EU Regulatory Cooperation Council - which would be able to help the UK and EU undertake a process of managed divergence where this is mutually agreed upon by both the UK and EU.
There has been growing support for this policy across businesses, think tanks and politics. The Labour party has signalled interest in the policy, and suggested that closer UK-EU ties are on the table if they win the next election.
Business is even more supportive, given that any policy which achieves the removal of non-tariff barriers to UK-EU trade through regulatory alignment would have significant benefits for businesses that import and export.