Northern Irish economy faces 12 percent hit with no UK Brexit deal

Howard TerryFeb 08, 2018

SNP MP Peter Grant said: "The leaked United Kingdom government's internal Brexit analysis makes for utterly grim reading, and Theresa May must now end the shameful secrecy surrounding the United Kingdom government's Brexit plans and publish the papers in full - which we now know will have catastrophic consequences for Scotland and the UK's economy".

"As the poorest English region, the North East was inevitably going to be more vulnerable to the economic shock of leaving the EU". And those are the words used, "commitments" and "guarantees", and they are there in black and white.

"Our region is not prepared to take this hit, especially in the context of ceasing to be the beneficiary of vital European Union funding that has helped North East economy for many years".

Liberal Democrat MP Tom Brake, the party's Brexit spokesperson, said: "This is a damning outlook for Britain". They are still keeping no deal on the table despite how crippling it would be to the regional economy.

"My hope is that in the coming weeks, previous red lines and tough talking points will be put to one side and a calm and rational debate about what is in the best interests of the people of Britain and Northern Ireland can prevail".

By comparison, London would sustain just a 3.5% hit to growth in a no deal scenario.

"People did not vote to make themselves poorer and should have the right to reject a bad deal on Brexit".

"The government need to start being clear what they are fighting for".

The analysis suggests that London, which voted overwhelmingly to remain in the European Union, will get off most lightly from Brexit, with growth reduced by just 3.5 per cent, even with no deal.

"The Government can not continue to try and hide taxpayer-funded analysis from the public, just because they're afraid of the political consequences".

The SNP described the documents, now available to MPs in the House of Commons library, as "utterly grim reading" and demanded Theresa May's government publishes its Brexit papers in full.

The British government's own analysis of the economic impact of Brexit shows a potential fall in gross domestic product growth of up to 16 percent relative to current forecasts.

A hard Brexit will cost Britain £80billion according to government figures that claim the North East will be the worst hit when the United Kingdom leaves the European Union.

However, if there is a no-deal Brexit, the UK Government's assessment of a 9% drop in GDP is even more severe than the Scottish Government's analysis, released last month, of 8.5%. Does she believe any analysis she has seen?

The Brexit figures come as Theresa May holds crunch meetings of her inner "war cabinet" of senior ministers on Wednesday and Thursday to thrash out what kind of trade relationship the United Kingdom will seek in negotiations. "And is this too high a price to pay to stop a Tory civil war breaking out?" he said.

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