Here’s the economic reality of Brexit – without the unicorn fantasy | Anton Muscatelli

Leave campaigners conjure up a scenario in which the UK can design its own economic environment. But the impact of an EU exit is complex

One reason why the arguments for Brexit are so beguiling is because it's easy to imagine an alternative world where some of the current laws of economics or politics don't apply.

Leave campaigners have tried to conjure up such a fantasy world in which, after leaving the EU, Britain has an opportunity to design its own economic environment with its ideal configuration of free trade, limited labour mobility, less regulation and foreign investment. They talk of a sovereign nation that will dominate post-Brexit negotiations with our former EU partners and the rest of the world. With the odd unicorn and fairy thrown in for good measure.

More worryingly, non-tariff barriers might actually increase following Brexit

Related: Bank's warning of a Brexit double whammy is very handy for Osborne