01:26 GMT +321 August 2018
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    EU and Union flags fly above Parliament Square during a Unite for Europe march, in central London, Britain

    EU Making 'Massive Miscalculation' in Negotiations With UK - Ex-Brexit Secretary

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    Economists and researchers have repeatedly warned of the consequences of a hard Brexit on the UK economy, forecasting Britain to be hit significantly harder than the EU by such a trading arrangement.

    Former Brexit Secretary David Davis has said Brussels is potentially making a “massive miscalculation” in its Brexit strategy by assuming the UK will not withdraw from the trading bloc without a deal in place, and insisted Britain will not be “pushed around” by the EU.

    READ MORE: UK International Trade Secretary Puts Likelihood of No Deal Brexit at 60%

    Davis, who resigned from his cabinet position in July over disagreements with Prime Minister Theresa May’s post-Brexit vision for the UK, proceeded to say that both the EU and the British parliament don’t want a hard Brexit, but it could very well happen by accident.

    “This has great scope for being a massive miscalculation on the part of the EU that could end up with no deal by accident. It's certainly not the intention of the EU to have a no-deal Brexit but they are misjudging us at the moment,” David Davis said in an interview with The Daily Telegraph on Sunday.

    “The UK parliament does not want no deal but it's certainly not going to be pushed around by the European parliament.”

    He also said he still thinks “that no deal is better than a bad deal” as the UK would have more freedom in determining its future. Moreover, he insisted the EU has “lots to lose” in the event of a no-deal Brexit.

    “As we get closer to the brink, there will be internal pressure within the EU [to secure a deal.]"

    With the UK scheduled to withdraw from the EU in just eight months and several matters yet to be agreed, businesses are struggling to develop contingency plans to deal with the various possibilities, as there is so much uncertainty.

    Moreover, The Independent launched its Final Say campaign last month with cross-party support, calling for a second Brexit referendum to be held to give Brits an opportunity to decide if the UK should commit to leaving the EU. 

    READ MORE: UK Cabinet Resignations Add to Brexit Uncertainty & Concern – Tandem Bank COO

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    UK International Trade Secretary Puts Likelihood of No Deal Brexit at 60%
    UK Trade Minister: EU 'Intransigence' Pushing UK Away From Brexit Deal - Reports
    Tags:
    referendum, trade, Brexit, UK Government, European Commission, European Union, David Davis, Theresa May, Europe, United Kingdom, Brussels
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