As in 1992 and 1993, when the hon. Gentleman and I were on the same side of the argument on the Maastricht treaty, I completely agree with him. His logic on this point is absolutely faultless, even if it often is not on many other European matters.
I believe—perhaps I am wrong—that all the business organisations, if consulted, would take the view of the CBI report and dismiss a customs union as an alternative to European Union membership—the “Turkey option”—as the very worst of all the halfway alternatives, leaving the UK with very limited EU market access and zero influence over trade deals.