The official independent economic forecaster to the Government has concluded that any new trade deals that might be concluded after Brexit may be difficult to secure and even if they do happen will have little or no positive impact on the economy.
The Office of Budget Responsibility state:
“As well as being challenging to negotiate, the evidence suggests that the benefits of additional bilateral trade deals are likely to be relatively modest - and the impact of any individual deal may not be material for our forecast”.
Commenting, Jo Stevens MP, leading supporter of a People’s Vote, said:
“We were promised sunlit uplands and a land of milk and honey after Brexit, but the reality will be chlorinated chicken and a £50 billion divorce bill.
“Theresa May’s Chequers car crash proposal would throw the 80 per cent of our economy represented by services under the bus, and for what? In the OBR’s view the answer is ‘nothing’.
“The reality, as the Treasury and now also the OBR have confirmed, is that no amount of new trade deals could ever come close to making up for the damage Brexit will do to our economy.
“The gap between what was promised and what Brexit will deliver is growing wider by the day. Any Brexit deal Theresa May gets will be a bad one and that is why more and more people are demanding this is taken out of the hands of the Westminster elite and we have a People’s Vote.”