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28/11/2018
Chancellor's Comments On Post-Brexit Economy Hardly Surprising - SDLP
An SDLP MLA has said Chancellor Philip Hammond's admission that the UK will be worse off economically post-Brexit is hardly surprising.
Mr Hammond was speaking as the Government prepares to set out its analysis of the impact of leaving the EU, while Prime Minister Theresa May battles to save her deal with Brussels.
It is anticipated that the Treasury report will conclude that the UK will be far better off under the terms of Mrs May's controversial proposal, rather than a disorderly crash out of the EU without a deal.
The Chancellor said the plan will still lead to a "slightly smaller" economy over the next 15 years and that under any scenario, in a "purely economic sense", the UK will be worse off than if it stayed in the EU due to trade impediments.
Daniel McCrossan, SDLP MLA for west Tyrone, said his party have "consistently made a strong case, prior to the referendum and since, that exiting the European Union would be economically disastrous".
"It is wholly unrealistic to aspire to leave a trading block of 500million, only to drift into uncertain trading territory, and not expect economic fallout.
"The writing is on the wall and it is written in bold, Brexit is an unmitigated economic disaster."
Mr McCrossan reiterated the SDLP's position that if the opportunity for a second referendum arose, they would "unequivocally" support it.
He added: "Yet whatever happens on the 11th December the backstop must be banked to ensure the protection of our economy and the avoidance of a hard border."
(JG/CM)
Mr Hammond was speaking as the Government prepares to set out its analysis of the impact of leaving the EU, while Prime Minister Theresa May battles to save her deal with Brussels.
It is anticipated that the Treasury report will conclude that the UK will be far better off under the terms of Mrs May's controversial proposal, rather than a disorderly crash out of the EU without a deal.
The Chancellor said the plan will still lead to a "slightly smaller" economy over the next 15 years and that under any scenario, in a "purely economic sense", the UK will be worse off than if it stayed in the EU due to trade impediments.
Daniel McCrossan, SDLP MLA for west Tyrone, said his party have "consistently made a strong case, prior to the referendum and since, that exiting the European Union would be economically disastrous".
"It is wholly unrealistic to aspire to leave a trading block of 500million, only to drift into uncertain trading territory, and not expect economic fallout.
"The writing is on the wall and it is written in bold, Brexit is an unmitigated economic disaster."
Mr McCrossan reiterated the SDLP's position that if the opportunity for a second referendum arose, they would "unequivocally" support it.
He added: "Yet whatever happens on the 11th December the backstop must be banked to ensure the protection of our economy and the avoidance of a hard border."
(JG/CM)
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