The government has published another Future Framework document (HERE), this time on company law and accounting. As usual, and with remarkable consistency it looks like an application from a hopeful accession country, stressing as it does the common values and shared interests, etc.
Looking at these documents, what the government proposes is effectively a system for the complete dismantling of the EU treaties and achieving what they achieve at the moment but by other means. We will become a third country on March 29th next year but the UK proposals would implicitly elevate third countries to virtually the same status as membership. Look at this example from the company law framework document:
Existing third country regimes do not guarantee sufficient stability of coverage by the end of the Implementation Period. UK and EU companies and enforcers need early assurance that our accounting and audit standards will be equivalent, especially given our unique starting point and complete convergence on day one of exit. They also do not provide sufficient stability that equivalence will continue to provided. Companies and enforcers would benefit from greater confidence that equivalence will not be withdrawn without undue notice.
Existing third country regimes do not cover all accounting and audit issues, notably corporate reporting and audit requirements, and audit firm registrations. We would be interested in exploring the mutual benefits of agreeing provisions on these issues.
If the EU was to accept the principles of separate agreements on security, data protection, company law, defence, trade and so on with a third country, which crucially delivered the same benefits as membership but without being under the ECJ, or paying money into EU funds and with customs controls on cross border trade as well as regulatory divergence, it would result in the end of the EU as we know it and involve a serious reduction in trade.
Why would they do it? Trying to suggest it is in their interests is madness.
