Don’t hobble post-Brexit Britain by throwing away Single Market membership

The UK economy has been resilient so far, but faces challenges that a falling exchange rate and monetary expansion have only postponed. Outside the Single Market, trade will be more difficult. And even if – optimistically – the resulting likely fall in growth is short-lived, it takes a surprisingly long time to make up a short-term loss. Nicholas Barr explains why the economic gain from being inside the Single Market, or a functional equivalent, is considerable and argues for a new focus on skills training as Brexit approaches.