The UK economy is only ~20% goods-based [1].
~85% [2] of the global market (PPP) sits outside of the EU (excluding the UK), and this share is growing.
Only 5-8% [3] of UK businesses export to the EU.
When negotiating trade deals with non-EU countries with goods-based economies, acceptance of equivalent but different goods standards will be important.
The direct benefit of the ongoing harmonisation appears to correspond to only 20% (the goods bit) of the UK economy?
What is the argument, therefore, for committing to ongoing regulatory alignment for goods between the UK and EU, given the missed opportunities such as:
- world trade - both in neogotiating cheaper imports, more competitive exports and in leverage for service-based deals - particularly given the relatively small size of the EU
- developing tailored domestic regulatory standards for the large majority of businesses that do not export to the EU, increasing domestic and global competitiveness
References
[1] https://en.wikipedia.org/wiki/Economy_of_the_United_Kingdom
[2] https://fullfact.org/europe/eu-has-shrunk-percentage-world-economy/
[3] https://fullfact.org/europe/how-many-businesses-export-eu/