An "overwhelming majority" of small and medium-sized British businesses want to retain the European Union's customs arrangements and stay in the single market after Brexit, according to a survey of 80 businesses led by former shadow chancellor Peter Sands and banker Ed Balls. Balls said businesses believed the benefits of the UK negotiating its own trade deals were outweighed by the disadvantages of leaving the customs union. Furthermore, the businesses felt that securing a free-trade agreement with some access to the single market was inferior to remaining a full member.
An "overwhelming majority" of small and medium-sized British businesses want to retain the European Union's customs arrangements and stay in the single market after Brexit, according to a survey of 80 businesses led by former shadow chancellor Ed Balls and banker Peter Sands. Balls said businesses believed the benefits of the UK negotiating its own trade deals were outweighed by the disadvantages of leaving the customs union. Furthermore, the businesses felt that securing a free-trade agreement with some access to the single market was inferior to remaining a full member.