Professor Michael Dougan from the EU Law @ Liverpool team explains what the single market is, and why leaving it would present enormous challenges to the UK economy.

This is a short, but extremely accurate account of what the Single Market is, how it works and what are the advantages to embracing this large market of over 500 million consumers.

He explains the philosophy behind the rules and regulations attached to the single market and acknowledges the process is still on-going as the EU is continually introducing measures to fine-tune the harmonisation of trade between its member states.

Recent soundbites like "Brexit means Brexit" and "we are taking back control" ignores the main attractions of the internal market and seems to offer no alternative model that would rival these existing benefits.

Professor Michael Dougan, University of Liverpool Law School.

What is the European Union Single Market - The Key Facts.

Published: 14th October 2016

Duration: 15:18