Sunday, 21 October, 2018

Covert Gov't Report Reveals Brexit to Hurt UK Regardless of Scenarios

UK government will hand over Brexit analysis Covert Gov't Report Reveals Brexit to Hurt UK Regardless of Scenarios
Melinda Barton | 31 January, 2018, 04:22

Britain's economy will be worse off after Brexit whether it leaves the European Union with a free trade deal, with single market access, or with no deal at all, according to a government analysis leaked to BuzzFeed News.

The EADT asked the department for the regional Brexit impact assessment for East Anglia and was given Minister Steve Baker's comments in the House of Commons today as a response.

The leaked analysis is believed to be the same report that is being shown to key cabinet ministers one-by-one this week ahead of Brexit cabinet subcommittee discussions scheduled for next week.

"There is no mandate for this hard and destructive Brexit", Chris Leslie, a lawmaker from the opposition Labour Party said.

More: How much is Brexit costing Brits?

Chris Leslie, a Labour MP and supporter of the Open Britain group campaigning against a hard Brexit, has called for the public release of the document, adding: "It's little wonder the government has repeatedly refused to publish any serious Brexit analysis, their own impact assessments underline what has always been obvious, that their reckless plan to crash out of the single market and the customs union will leave us all much worse off".

Responding to calls for it to be published, Mr Baker said MPs would get as much information as possible before they vote on the final Brexit deal but said: "We don't propose to go into these negotiations having revealed all of our thinking".

"Ministers can not keep sidelining Parliament to hide the deep divisions within their own party".

Labour will table a motion which would give MPs a binding vote.

While Liam Fox has told hardline Tory Leavers they will have to "live with disappointment" and accept a softer Brexit. If it is politically embarrassing, these are not blushes to be spared.

Tory MP Heidi Allen added: "This is a one-time deal only, and I for one owe it to my constituents to prove to them I have exercised full scrutiny".

He said a report on the BuzzFeed News website about the leaked study was a "selective interpretation" of a "preliminary analysis".

The leaked document said new trade deals with the U.S., China, India and others would not make up for the lost revenue from the EU.

The reported analysis suggested that if Britain agreed a comprehensive free-trade agreement with the European Union, growth over the next 15 years would be five per cent lower than current forecasts.

Alternatively, if the United Kingdom were to retain access to the single market through membership of the European Economic Area the loss would be just 2%.

Mr Rees-Mogg, chair of the pro-Brexit European Research Group, told Sky News the claim that a hard exit could hit economic growth by 8% was "simply wrong".

Here are three possibilities, according to the government assessment: Growth could fall 5% over the next 15 years compared to existing forecasts under a comprehensive free trade agreement.

"It also contains a significant number of caveats and is hugely dependent on a wide range of assumptions which demonstrate that significantly more work needs to be carried out to make use of this analysis and draw out conclusions", the source said.