Morning Call: pick of the papers

The ten must-read comment pieces from this morning's papers.

1. This budget is just as I feared (Guardian)

Only growth can save us from a lost decade, says Alistair Darling. But George Osborne is risking not just recession but depression.

2. Labour made the mess, but the Tories are only making it worse (Daily Telegraph)

The ugly truth is that there appears to be no political solution to the calamity facing us all, says Peter Oborne.

3. Shrewd politics hides brutal economics (Financial Times)

The Chancellor cannot disguise that economic outcomes are drifting further from expectations, writes Martin Wolf.

4. Trapped by his own ideology, the Chancellor is lonelier than ever (Independent)

Cabinet ministers are becoming more assertive, behind the scenes and publicly, writes Steve Richards.

5. Why we should be cautious about cheering on Cyprus's no vote (Guardian)

The main demand of this week's 'parliamentary revolt' was that Cyprus remain an offshore tax haven, writes Nikos Chrysoloras.

6. Osborne’s play for the strivers (Financial Times)

The chancellor had to revive his party’s winning tradition as the friend of the aspirational classes, writes Janan Ganesh.

7. This Budget was too hopeful. We want despair (Times)

The Chancellor calls Britain an ‘aspiration nation’, but we all know we’re in a mess, writes Matthew Parris. His best policy is to admit it.

8. George may seem unlovable but the smirking alternative would lead us to perdition (Daily Mail)

We must never forget that the only alternative government on offer will be led by Miliband and Balls, says Max Hastings.

9. Rights and wrongs of a Royal Charter (Independent)

An Independent editorial says that "with reluctance", the paper has accepted the use of a Royal Charter to create a new press regulator.

10. Good parenting can’t be measured in GDP (Daily Telegraph)

What does our Cabinet, mainly upper-class males, understand of real-world child care dilemmas, asks Allison Pearson. 

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What price would the UK pay to stop Brexit?

The EU could end Britain's budget rebate and demand that we join the euro and the Schengen zone.

Among any group of Remain politicians, discussion soon turns to the likelihood of stopping Brexit. After Theresa May's electoral humbling, and the troubled start to the negotiations, those who oppose EU withdrawal are increasingly optimistic.

“I’m beginning to think that Brexit may never happen,” Vince Cable, the new Liberal Democrat leader, said recently. A growing number, including those who refuse to comment publicly, are of the same view. 

But conversation rarely progresses to the potential consequences of halting Brexit. The assumption that the UK could simply retain the status quo is an unsafe one. Much hinges on whether Article 50 is unilaterally revocable (a matter Britain might have been wise to resolve before triggering withdrawal.) Should the UK require the approval of the EU27 to halt Brexit (as some lawyers believe), or be forced to reapply for membership, Brussels would extract a price. 

Guy Verhofstadt, the European parliament’s Brexit co-ordinator, recently echoed French president Emmanuel Macron's declaration that “there is always a chance to reopen the door”. But he added: “Like Alice in Wonderland, not all the doors are the same. It will be a brand new door, with a new Europe, a Europe without rebates, without complexity, with real powers and with unity.”

The UK's £5bn budget rebate, achieved by Margaret Thatcher in 1984, has long been in the EU's sights. A demand to halt Brexit would provide the perfect pretext for its removal. 

As Verhofstadt's reference to “unity” implied, the UK's current opt-outs would also be threatened. At present, Britain (like Denmark) enjoys the right to retain its own currency and (like Ireland) an exemption from the passport-free Schengen travel zone. Were the UK to reapply for membership under Article 49 of the Lisbon Treaty, it would be automatically required to join the euro and to open its borders.

During last year's Labour leadership election, Owen Smith was candid enough to admit as much. “Potentially,” he replied when asked whether he would accept membership of the euro and the Schengen zone as the price of continued EU membership (a stance that would not have served Labour well in the general election.)

But despite the daily discussion of thwarting Brexit, politicians are rarely confronted by such trade-offs. Remaining within or rejoining the EU, like leaving, is not a cost-free option (though it may be the best available.) Until anti-Brexiteers acknowledge as much, they are vulnerable to the very charge they level at their opponents: that they inhabit a fantasy world. 

George Eaton is political editor of the New Statesman.