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Labour’s spending plans “can’t be squared with the cost of Brexit”

October 31, 2019 11:47 PM
By Ellen Nicholson

Liberal Democrat Shadow Chancellor Ed Davey has warned Labour's spending plans are totally undermined by Jeremy Corbyn's commitment to Brexit with its huge hit to growth and tax revenue. He said:

"Jeremy Corbyn wants to spend, spend, spend whilst still pursuing his own form of costly Brexit. Any form of Brexit will make Britain's economy weaker and people poorer, meaning much less tax revenue for the Treasury.

"Corbyn simply can't square these spending promises with his Brexit policy and the cost of Brexit.

Boris Johnson's Brexit deal will leave the UK £70bn worse off than if it had remained in the EU, a study by the National Institute of Economic and Social Research (NIESR) has found.

It concluded that GDP would be 3.5% lower in 10 years' time under the deal. NIESR said approval of the prime minister's deal "would reduce the risk of a disorderly outcome, but eliminate the possibility of a closer trading relationship with the EU".

Our Parlimentary candidate Ellen Nicholson said, with Trump criticising the Prime Minster's Brexit deal with the EU, saying it restricts the US's ability to do future trade perhaps looking for a weakened Britain to ensure profitable trade deals for America, it's clear that neither Johnson nor Corbyn fully understand the impact of their commitment to Brexit will have on the wider economy and on hard working people's lives.

Both the Conservatives and Labour are stuck in the past, failing time and again to build a better future. We have an ambitious plan for the future of our country, where every person, every community and our planet can thrive.

"A vote for the Liberal Democrats is a vote to stop Brexit - so we can boost our economy, invest in our public services and build a brighter future for our whole country."

Stop Brexit. Build a brighter future.