Withdrawal from the EU: Economic Impact

Part of Treasury – in the House of Commons on 21 March 2023.

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Photo of Tommy Sheppard Tommy Sheppard Scottish National Party, Edinburgh East

It is not that difficult, is it? Last week, the Office for Budget Responsibility published its report and, at the bottom of page 46, it says quite clearly that the OBR predicts that Brexit means that the UK economy will shrink by 4% and trade will go down by 15%. Is it not time to get over this denial phase and actually admit that Brexit has caused irreparable harm to the UK economy? Or is the OBR wrong?