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Saturday, June 15, 2024

No Signs of Promise for UK Economy as Post Brexit Exports Continue to Slump

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There are no signs of promise as exports continue to slump, the SNP has said, pointing to the Tories’ damaging Brexit as a cause of the UK’s rapidly declining economy.

New figures released by the Office for National Statistics (ONS) found that the value of goods exports decreased by £0.8 billion (2.3%) in December 2022, linked to a fall in exports to non-EU countries.

The report also found that in Quarter 4 (Oct to Dec) 2022, total trade in goods and services deficit, excluding precious metals, widened by £2.4 billion to £26.8 billion, driven by lower exports of both goods and services.

The SNP’s International Trade spokesperson, Richard Thomson MP, said the figures, just the latest in a line of dire post-Brexit economic forecasts, should serve as a wake up call for the Westminster parties.

Commenting, Richard Thomson MP said:

“There are no signs of promise to be found anywhere with recent economic forecasts all highlighting the catastrophic damage of the Tories’ hard Brexit.

“With economic warnings constantly falling on deaf ears in Westminster, where the pro-Brexit Labour Party work hand-in-glove with the Tories to squash any mention of Brexit damage, it’s become imperative Scotland escapes, by gaining the full powers of independence.

“These new figures, just the latest in a list of dire post-Brexit economic forecasts, should serve as a wake up call for the Westminster parties and finally convince them this is not the right course. 

“As ever though we’re instead likely to see a doubling-down on Brexit, with Tory Ministers set to continue to not only ignore warnings but promote downright disinformation about the supposed ‘benefits of Brexit’ of which there are none.

“The whole saga has shown why Westminster is unfit to govern in Scotland’s interests.

“To reverse the damage of Brexit and set us on the path to economic prosperity we need to be an independent country, back in the EU where we belong.” 

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