Today: July 15, 2025
May 21, 2025
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It’s Just 0.03% at Stake, Mr. Farage. What About the Loss of 4%?

The new UK-EU deal, forged at the first formal summit since Brexit, is a win-win. It doesn’t pull us back into the EU, the single market, or the customs union. It doesn’t reinstate freedom of movement. It honours our red lines. Yet it brings immense benefits … writes Anasudhin Azeez

They say politics is the art of the possible—but lately, in Britain, it’s looking more like the art of distraction. Amidst a fragile economy, rising costs of living, and an overstretched NHS, political firebrands like Nigel Farage, Kemi Badenoch and right-wing columnists such as Andrew Pierce are busy reviving the old ghosts of Brexit. The European Union—an issue many hoped to move past—is once again being dangled as bait to stir division and reclaim power through fear and nostalgia. Let’s not be fooled again. This is not about fisheries. It’s about political opportunism.
Farage and his ilk are obsessing over the UK fisheries sector, claiming betrayal and loss of sovereignty. But let’s break down the math: UK fisheries contribute a mere 0.03% to our GDP. In contrast, post-Brexit trade complications have been estimated to cost us up to 4% of GDP in long-term economic loss. That’s over 100 times the impact. Which one deserves our attention?

Consider the aquaculture sector. While Pacific6 Enterprises in California is building a large offshore bluefin tuna ranch, the UK—an island nation—is still farming salmon and shellfish. We import tuna. We don’t farm it. Meanwhile, countries like the Maldives, with a fraction of our land and population, derive 6% of GDP from fisheries, employing 11% of their workforce. Let that sink in: we have more coastline, more tech, more capital—but worse performance than one of the smallest nations in Asia

We are a proud nation, and we do not surrender easily. But pride must be rooted in progress, not in romanticising a past that never quite delivered. We must live together, work together, and grow together. And that means having a practical and cooperative relationship with our neighbours.
The new UK-EU deal, forged at the first formal summit since Brexit, is a win-win. It doesn’t pull us back into the EU, the single market, or the customs union. It doesn’t reinstate freedom of movement. It honours our red lines. Yet it brings immense benefits: British travellers can use e-gates when visiting EU countries, avoiding long queues; An SPS deal (Sanitary and Phytosanitary standards) will ease food and agricultural trade, lowering costs and reducing red tape; Food producers gain faster market access and cheaper logistics, potentially lowering prices for British consumers; Joint security cooperation with EU nations strengthens the UK’s borders and enhances safety on our island. This is what a mature, forward-thinking post-Brexit relationship looks like. But while the populist noise is focused on a small slice of the economy, what about the opportunities we are ignoring?

Consider the aquaculture sector. While Pacific6 Enterprises in California is building a large offshore bluefin tuna ranch, the UK—an island nation—is still farming salmon and shellfish. We import tuna. We don’t farm it. Meanwhile, countries like the Maldives, with a fraction of our land and population, derive 6% of GDP from fisheries, employing 11% of their workforce. Let that sink in: we have more coastline, more tech, more capital—but worse performance than one of the smallest nations in Asia.
France, a fellow maritime power, produces 900,000 tonnes of fisheries products annually. In 2022 alone, French fleets brought in 517,000 tonnes, worth €1 billion. The UK, in comparison, lands around 400,000 tonnes annually and is a net importer, bringing in over 427,000 tonnes of fish in 2021, worth £1.7 billion.

Despite this, our political debate is stuck on sovereignty and sentiment. We talk of protecting fishermen while the number of fishers in the UK has halved since the 1990s. In 2021, there were only 11,000 fishers left, and our fleet has shrunk by 33% since 1996. Instead of looking forward, we’re busy playing historical re-runs.

This deal with the EU is not about giving in—it’s about getting ahead. It opens markets, strengthens cooperation, and paves the way for economic recovery. Most importantly, it allows us to focus on what truly matters: jobs, homes, healthcare, innovation, food security, and trade.
Let us not allow 0.03% of GDP to hijack the national conversation. Let us not permit fear to guide policy. The time for cheap slogans is over. The time for pragmatic partnership—and economic reinvention—has arrived.

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