But they can simply reestablish deals regarding people as well. Plenty of countries have deals regarding movement of people.
And Switzerland even has a deal with the EU that allows the exact same movement of people as if they were a member.
And Switzerland even has a deal with the EU that allows the exact same movement of people as if they were a member.
Trade deals cover "capital" and "goods", but usually not "people". So concretely speaking, labor costs will rise in the UK (due to a reduction of cheap workers immigrating from other EU countries to the UK) and the country will start experiencing a deficit of highly skilled workers¹ (due to educated workers not able to immigrate).
¹ Of all places, the HN community should be familiar with this issue, because it is often discussed in the context of the US ("startup visa", etc).