If the UK leaves the EU without a deal the government will slash 80% to 90% of the tariff positions down to zero. Those tariffs are currently required by the EU.

In the event of a nod-deal Brexit (WTO-deal actually), it will be the single biggest liberalization of trade in British history, and most likely the world.

Without a doubt, this is a huge advantage for UK consumers and an unparalleled opportunity.

Meanwhile, it's B minus 23 days and counting.

Mike "Mish" Shedlock