Why Common Market 2.0 is the Brexit we need

In recent weeks, there has been a lot of inaccurate media coverage of Common Market 2.0, which proposes that the UK should remain a member of the European Economic Area (EEA) after Brexit. The fundamental purpose of the EEA Agreement is to extend the benefits of the single market to countries that are outside the European Union but members of the European Free Trade Association (Efta). EEA membership for non-EU states involves accepting the rules of the single market – including the four freedoms – but excludes other EU policies that many in the UK dislike, such as economic and monetary union, political union, the common agricultural policy, the common fisheries policy, and other common policies. The advantages of retaining deep levels of access by UK suppliers to the single market in goods and services are widely accepted. But truly “frictionless” access can be achieved only if the EU is confident that single market rules are correctly applied and if there is a process for updating our rules as the EU’s rules develop.