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Tuesday, December 6, 2022

New Report Shows Brexit is Making The UK Poorer

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A new report highlighting the “devastating” impact of Brexit – lower wages, reduced productivity and a shrinking economy – six years on from the referendum in 2016 is in ‘stark contrast’ to the Scottish Government’s vision of an independent Scotland, the SNP has said.

The study, by the Resolution Foundation in collaboration with the London School of Economics (LSE) concludes that Brexit is making the UK poorer and will see a reduction in productivity and wages in the decade ahead.

Referencing the Scottish Government’s ‘Building a New Scotland’ paper the party’s Shadow International Trade Secretary, Drew Hendry MP said that the impact of Brexit proved Scotland would be better joining the ranks of the many small independent neighbouring countries continuously outperforming the UK on wealth, happiness and fairness metrics. 

Mr Hendry said the Scottish Government’s plans for independence would allow Scotland to make the most of its potential to create a more prosperous, fairer and happier country.

Commenting, Drew Hendry MP said:

“This report lays bare the reality of the Tories’ Brexit obsession and the devastating impact it is having on life in the UK nearly 6 years to the day from the vote.

“In stark contrast to the Scottish Government’s paper on independence, which compared the UK economic performance to the success of small, independent, neighbouring nations this report highlights how the Tories’ Brexit obsession is harming our trading potential.  

“And it’s little wonder other countries are outperforming the UK on almost every metric given the Tories’ desire to close the UK off from the world – a move which is reducing the UK’s competitiveness and productivity.

“That stands in stark contrast to the Scottish Government’s vision of fostering strong links with our closest trading partners, neighbours, and allies, and in the process set about creating a wealthier, fairer and happier society with independence.

“Falling wages, shrinking sectors, and reduced productivity are all far from the grandiose promises offered up by the Tories in 2016.

“And falling imports from our closest neighbours in the EU is the true cost ofhigher tariffs and unnecessary trade barriers erected by the disastrous Brexit fallout.

“This report makes clear that it is more important than ever for Scotland to chart its own course with independence – allowing us a return to the EU and a market seven times bigger than the UK – and escape the mess the Tories have created.”

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