What may appear modest in Treasury modelling can be existential for small, specialised jurisdictions heavily exposed in a single sector.
It is hard to think of another example in modern British history where a government has chosen to give up sovereign territory and pay billions to do so.
The longer the Government pauses, the clearer the conclusion becomes, this is a negotiation conducted in opacity, defended in haste, and now reconsidered under pressure from allies, Parliament, and its own unresolved paper trail.