What if the UK will not commit to any level playing field guarantees?
We agreed in the Political Declaration that the scope and depth of the future relationship will depend on the level playing field commitments that the UK is willing to undertake. The EU will not agree on an FTA without solid level playing field guarantees and an agreement on fisheries.
Our geographic proximity, volume of trade and economic interconnectedness are such that it is in our mutual interest to agree on fair competition standards between us, as well as on their effective enforcement. Given the current very close integration of British companies with the Single Market and the UK’s desire for a comprehensive free trade agreement, it is only fair that the EU requires commensurately strong level playing field guarantees.
This will also be in the interest of British consumers and businesses. The EU is by far the greatest export market for UK businesses and most UK imports come from the EU.