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Saturday, April 20, 2024

UK Government Trade Report Lays Bare Deep Brexit Hit

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The SNP has condemned the Tory government’s extreme Brexit deal after figures revealed yet another Brexit blow to trade.

Findings published by the Department for International Trade in its Annual Report found that UK Exports of Goods and Services in 2020-21 was £560.0 billion – a 17.8% decrease from 2019-20 according to ONS.

The statistics cited in the Report also show that UK Exports as a percentage of GDP in 2020-21 are down 4.1% – highlighting the damage that has been caused by the Tories’ hard Brexit, and illustrating the picture consistently painted by private sector reports and official statistics since the UK left the EU at the start of this year.

Separately, the British Chambers of Commerce warned that:

“Six months into the new trading relationship, more than a quarter of goods exporting firms are experiencing continued falls in sales to EU customers.

“This is a historically high number” – this is following their report that “trade is projected to make a negative contribution [the U.K. economic growth] over the forecast period.”

Commenting, the SNP’s Shadow International Trade spokesperson Drew Hendry MP (pictured) said:

“With each day that passes the damage of Brexit becomes clearer.

“The Tory government’s reckless pursuit of Brexit is delivering a body blow to businesses and the economy.

“The Tory government’s assertion that Brexit will be good for UK trade is being periodically rubbished by official statistics, and just about every sector is reporting serious disruption to their business models.

“These figures are just the latest in a long list of examples of the damage inflicted by Brexit – all in the middle of a pandemic and economic crisis.

“Businesses across the country are completely dismayed by the lack of recognition and responsibility being shown by the Tory government for the hardship imposed upon them.

“Beyond the Tory bluff, bluster, and outright denial Brexit has been nothing short of an unmitigated disaster – and Scotland is being forced to pay the price against our will.

“It’s clear beyond any doubt that the only way to keep Scotland safe from the long-term damage Tory Brexit and austerity is to become an independent country, with the full powers needed to secure a strong and equal recovery and regain the economic and trading benefits of EU membership.”

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