Reeves – Crashing out of Europe would be a disaster for our economy and humiliation for our country - People's Vote

Reeves – Crashing out of Europe would be a disaster for our economy and humiliation for our country

Evidence of the enormous cost to the British people of the Government’s reckless and damaging drive towards No Deal has become dramatically clearer overnight as the Government were forced to announce an emergency boost in funding for No Deal counter-measures and it was revealed:

  • The Ford Motor Company – UK’s largest car manufacturer – would consider whether to remove some or all of its manufacturing operations from Britain if the UK crashed out of the EU with No Deal.
  • The Law Society – the lawyers’ professional association – warned that No Deal would cost Britain’s previously world-leading legal services sector £3.5 billion and threaten 10,000 jobs.
  • No Deal would drive up food prices to such an extent that donations to food banks – and charity donations in general – could dry up.
  • School dinner services could face shortages and be forced to serve children food that was taken off the menu – for health reasons – more than a decade ago.


Overnight the Government announced more money to limit the impact from what is expected to be traffic and border chaos in Kent and elsewhere if No Deal – said by Cabinet minister Michael Gove to be the Government’s default operational assumption earlier this week – happens. Queues could easily spread from the Kent coast to the outskirts of London, turning the “Garden of England” into “the Lorry Park from Hell”.

In Northern Ireland the risks are even greater – with thousands of businesses under immediate threat and the police service and others worried that No Deal could threaten stability and security.

Last month Government’s independent fiscal watchdog, the Office for Budget Responsibility, said No Deal would mean:

  • An immediate recession with the economy shrinking by 2% by the end of next year.
  • Soaring unemployment and tumbling house prices
  • A long-term £30 billion hit to public finances


Commenting, Rachel Reeves MP, leading supporter of the People’s Vote campaign, said:

“The Government is spending £130 million on a No Deal propaganda campaign but no one should be fooled into thinking crashing out of Europe is anything other than a disaster for our economy and a humiliation for our country.

“The slump in the value of the pound as the Government ramped up its No Deal rhetoric this week says it all – No Deal will be bad for the U.K.

“The extra Government spending announced today might be necessary but no amount can ever be sufficient to clear up the mess No Deal will make. And this is all money that could be better spent on the NHS, schools or reversing cuts to benefits.

“Boris Johnson and his hard Brexit Cabinet only mentioned No Deal in 2016 to dismiss the idea. Now they are trying to force it on the country. They have no right and their behaviour is an outrage against democracy.

“The only democratic way forward is to give the people the Final Say on whatever comes out of the Brexit crisis. Only with a People’s Vote can the outcome be fair given that what is now being imposed on us is a million miles away from what was promised in 2016.”