The SNP has criticised Labour for ignoring the “spiralling cost” of Brexit on the UK’s economy and industries.
Nearly five years after leaving the European Union, fresh data paints a bleak picture of Brexit’s fallout.
The Independent revealed new statistics on Sunday, 5 January 2025, that underscore the financial and economic toll of Brexit.
The Treasury’s latest estimate shows Britain’s settlement with the EU has cost £30.2 billion.
Food exports to the EU have dropped by £2.8 billion annually since the transition period ended, according to the Centre for Inclusive Trade Policy.
The Centre for Economic Performance at LSE found goods exports plummeted by £27 billion in 2022 alone.
European Movement UK reports a yearly shortfall in Treasury finances of almost £45 billion due to Brexit.
Lost output is estimated at a staggering £100 billion each year.
Stephen Gethins MP, the SNP’s Westminster Europe spokesperson, condemned Labour’s lack of action on these figures.
Gethins stated:
“Labour need to finally wake up to the spiralling cost of Brexit if they want to have any credibility left at all.”
He called Brexit “an unparalleled disaster” for businesses and wider society, adding that Westminster’s indifference is unacceptable.
Gethins highlighted the annual £45 billion loss to the public purse, which far outweighs Labour’s proposed employer National Insurance increases.
He also criticised the loss of opportunities for young people, who are now unable to live, work, and study across Europe.
Gethins accused Labour of breaking promises to address Brexit’s damage by ignoring reforms like rejoining the Single Market or introducing a Scottish Visa pilot.
“Scotland is being forced to keep paying the price for Westminster’s damaging choices,” he said.
The SNP believes that with independence, Scotland could rejoin the EU and regain access to the world’s largest single market.
The statistics make one thing clear: the economic cost of Brexit is immense and still growing. Scotland deserves better.
