Re: Looks like "Red Ken" Livinstone had it right so far.
Two things
We wont lose trade to the EU, as mentioned countless times the EU loses out if it is stupid and it is not stupid. OK the EU is a large part of our trade but the rest of the world is larger than our trade with the EU. So if we lose 10% of EU trade we only need 9% increase and not a 'stupid' increase with the entire rest of the globe (larger than the EU!)