Time for Labour to Reverse Tory Hard Brexit
The SNP has said that it is time for Labour to be honest about the deepening damage caused by their political choice to embrace the economic disaster of a hard Tory Brexit.
It comes after the Office for Budget Responsibility warned that, “weak growth in imports and exports over the medium term partly reflect the continuing impact of Brexit”, which they “expect to reduce the overall trade intensity of the UK economy by 15 per cent in the long term”.
Earlier this month the UK Treasury was forced to admit that the UK has already paid the EU £23.8 billion as part of its ‘financial settlement’ agreement, and will pay a further £6.4 billion.
On top of those costs, a study by the Centre for European Reform (CER) found that UK government tax revenues would have been around £40 billion higher, on an annual basis, if the UK had remained in the EU – the exact amount that Rachel Reeves has claimed to raise through higher taxes in yesterday’s budget.
Labour are living in a fantasy where Brexit is not the critical factor here.
GRAEME
The budget black hole the Chancellor is trying to plug with tax rises is a Brexit black hole – it’s essentially the exact amount we have lost out on due to a wasteful, damaging EU withdrawal.
The people of Scotland unambiguously rejected Brexit, and our best future lies as an independent EU member state.
But the Labour UK Government must concede the role Brexit is playing and seek to walk back the extreme position established by the Tories.
The Prime Minister and the Chancellor have spoken repeatedly about the need for honesty around the state of the UK public finances. It’s time that they took some of their own advice, because the Labour Party are still in denial about the deepening damage caused by their political choice to embrace the economic disaster of a hard Tory Brexit.
STEPHEN GETHINS, ARBROATH MP & SNP EUROPE SPOKESPERSON
Rachel Reeves tells us that she had no choice but to fill the Treasury’s financial black hole with higher taxes – but Labour actively ignores the fact that the black hole this hard Brexit is causing amounts to a £40 billion annual hit to UK finances – exactly the same amount they claim to have raised in higher taxes yesterday.
Everyone knows that Britain is broken – but neither the Labour Party or the Tories are honest enough to admit that Brexit broke it.
One of the most worrying aspects of the budget is that UK economic growth is set to start stalling and falling again in 2026.
It seems that no matter the Westminster Chancellor in charge – broken, Brexit Britain is destined to hold back growth in Scotland and hold back our path to prosperity.
With independent powers, Scotland can forge a different path and create a different future, we can protect our public services and grow our economy by re-joining the European Union.
