Facing public anger, a famine in Ireland and fears of starvation in Britain, the prime minister, Robert Peel, introduced legislation to end the tariffs. On June 25th 1846 the House of Lords repealed the Corn Laws, following a House of Commons vote a month earlier. It marked a major moment in the history of open economies. How it was achieved offers lessons to those defending the global trading system today.
The second lesson is the need for small victories to generate momentum, rather than going for big wins immediately—Peel’s policy of “gradualism”. His plan did not fully remove sliding-scale tariffs until 1849, giving time for landowners to adapt. Meanwhile, Britain’s free-trade moves helped usher in a wave of trade agreements across Europe and with America.
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