Murray – UK potentially falling to 7th largest economy shows Brexit is already making us poorer - People's Vote

Murray – UK potentially falling to 7th largest economy shows Brexit is already making us poorer

A new report by consultants at PwC suggests the UK economy will fall from 5th to 7th largest in the world in 2019, falling behind India and France, due to Brexit slowing growth and the lower value of the pound. 

Commenting, Ian Murray MP, leading supporter of the People’s Vote campaign, said:

“Brexit is already causing huge and lasting damage to our economy, making us all poorer, and that will get worse if we leave the EU. A new analysis suggests the UK will fall from the 5th largest economy to the 7th next year, falling behind India and France, due to Brexit dragging down our economic growth and hitting the value of the pound.

“Whichever way you voted two years ago, nobody voted for a deal that makes our country poorer. Brexit campaigners promised we would continue to enjoy ‘the exact same benefits’ of being in the EU. Instead, the Brexit on offer delivers the exact opposite of what was promised: less trade, fewer opportunities and lower living standards.

“People were promised a brighter future in 2016 if they voted to leave, but the reality looks very different – a weaker economy, a poorer country and a damaged NHS. People have a right to compare the Brexit on offer to the one that was promised before the referendum. And if it doesn’t match up, everyone has the right to change their minds.”

/ends