As Brexit trade talks remain deadlocked, with the transition period scheduled to come to an end on December 31, the prosperity of Britain post-EU has become a point of concern. Queen Mary’s School of Business and Management Professor Liam Campling insisted the UK would need to make some significant changes to thrive on the international stage. During an interview with Express.co.uk, Professor Campling noted the UK could copy a strategy used by the EU to expand.
He also argued the Government would need to focus more on skills and specialist training of Britons to ensure the workforce is as efficient and proficient as possible.
Professor Campling said: “The first point is to be a global Britain we would need to enter into a large number of trade agreements.
“Essentially we would be needing to mimic what the EU has been doing over the last 20 years in terms of its negotiation of FTAs.
“The EU had a policy called global Europe in 2005 and ever since then, it has been negotiating with an ever-increasing number of free trade agreements.
Brexit breakthrough: UK to mimic Brussels’ ‘global EU’ strategy to become powerhouse
“The UK is going to have a lot of catch up time to kind of be in a similar position.”
Beyond this strategy, Professor Campling argued the UK would need to make some changes to attract more investors into Britain.
He said: “To attract investors into the UK I think we need to look at the entire configuration of institutions and skills that exist in the UK at the moment.
“Of course, there are a lot of opportunities, I am sure, but I don’t know what they are as I am not an investor.
“But for the UK to turn itself into a powerhouse I think they do need to be looking at the human capital, the skills, training and getting people up to speed.”
Professor Campling also insisted the UK needed to improve its efficiency if it wanted to compete internationally.
He said: “The UK is one of the most unproductive places in the world.
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“One of the reasons why they think that is because of the relatively low levels of skills training.
“As a result, our workforce isn’t as advanced as it might be, if you compare it to somewhere like Germany.”
Brexit trade talks between the UK and EU have so far only resulted in a stalemate with no solid trade agreement in sight.
While both sides have claimed a no deal is a growing possibility, both the UK and EU have insisted they are determined to work towards a trade deal.