Those favouring continued UK membership of the EU are inclined to paint a picture in which our small island is left trying to fend for itself in a hostile world. This is highly misleading. The UK is the world’s fifth largest economy. We would be free to forge trade agreements with whoever we chose – and plenty of countries would want such deals. Admittedly, the US trade representative recently suggested that the US would not particularly be in the market for a separate trade agreement with the UK. But this is a scaremongering tactic designed to influence UK public opinion. Post-Brexit, the US probably would want a deal. Anyway, US tariffs are only 3.6pc on average, hardly an insuperable barrier.