Former chancellor Osborne: UK should rejoin EU customs union and boost trade

Former chancellor George Osborne has said Britain’s economy has ‘fallen off a cliff’ since Brexit and that rejoining the European Union’s customs union would be the fastest route to recovery.

Osborne, who was removed as chancellor after serving in David Cameron’s cabinet at the time of the referendum, said it was important to rebuild ties with the EU.

“Brexit has been a mess,” he told the Independent newspaper.

“Britain has practically fallen off a cliff. It has had a huge impact on the British economy. It is clearly poorer than it would otherwise be,” he added.

Acknowledging that rejoining the EU would be difficult a decade after the Brexit referendum, Osborne said closer ties with Europe could boost the economy.

“I would rejoin the customs union. It’s a fairly simple thing to do. This was never part of the Brexit debate. Nobody knew we were leaving it, and it has had a devastating impact on trade,” he stressed.