Boris Johnson’s Brexit deal is bad news for UK economy

A study from the National Institute of Economic and Social Research has found that Boris Johnson’s Brexit deal will leave the UK £70bn worse off than if it had remained in the EU. Responding to the news Tom Brake MP, Liberal Democrat Shadow Secretary for Exiting the EU said:

These figures come as no surprise. We know that there is no deal is as good as the deal we have currently as members of the EU. That is why the Liberal Democrats will keep fighting to stop Brexit.

The Tories’ obsession with Brexit at any cost puts our future prosperity at risk. It is unconscionable that any Government would voluntarily adopt a policy that would slow economic growth for years to come. Boris Johnson’s eagerness to push for such a damaging deal is shocking.

This General Election will decide the future of our country for generations. Liberal Democrats will be fighting to end this Brexit chaos. We are the strongest party of Remain and will be standing on a manifesto to stop Brexit by revoking Article 50.

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3 Comments

  • nigel hunter 30th Oct '19 - 11:21am

    They are not bothered about the best deal for the country and its people, only power for themselves and their backers .

  • One problem is that many people in the United Kingdom do not see themselves as being prosperous. Indeed they are under greater financial pressures than in the past. It would help if more empathy were shown to them.
    It would help if this were recognised in the statements about the EU.

  • Rupinder Singh 31st Oct '19 - 3:54pm

    A rule of thumb: the UK is losing 1% in GDP per year due to the Brexit mess.

    The NIESR modelling echoes this, to the extent it is feasible to do this given the weekly if not daily mood swings of Conservative polity.

    The Brexit-path would imply anything between 10-25% loss in potential growth over the next decade – where the latter extreme case includes the dis-unionisation of the UK with Scotland and N.I. adrift from the UK.

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