Streeting – Brexit already causing serious and lasting harm to our economy - People's Vote

Streeting – Brexit already causing serious and lasting harm to our economy

Newly published data shows Brexit is already causing serious economic damage, with the UK economy shrinking by 0.4% in April, manufacturing down 4% (the biggest slump since 2002), output from car manufacturing down 24% and an ongoing slowdown in the services sector.

Commenting, Wes Streeting MP, member of the Treasury Committee and leading supporter of the People’s Vote campaign, said:

“Brexit is already causing serious and lasting harm to our economy. News that the economy contracted in April shows the seriousness of the crisis and the extremely high stakes for jobs, investment and public services.

“British industry is feeling the strain, with British steel and car manufacturing on the brink. And the threat of a destructive No Deal now hangs over every decision facing businesses small and large across the country. They know that WTO terms are the worst trading terms in the world and that No Deal threatens a new economic crisis.

“Now we know the real costs of Brexit, the public must be allowed back into this process. Forcing No Deal – for which there is no mandate – on the country is not a solution. And nor is it a solution to run down the clock with fruitless attempts at renegotiation of Theresa May’s Brexit deal.

“The only way to deliver a stable and lasting settlement, and to give businesses and workers the certainty they need, is through a People’s Vote.”

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