A new report by Oliver Wyman has found that the most negative Brexit scenario could cost the UK economy up to £27 billion. It also finds that households could be left up to £1,000 a year worse off because of Brexit trade barriers.
Commenting, Wes Streeting MP, leading supporter of the People’s Vote campaign, said:
“There is no Brexit dividend, only a Brexit deficit. Just like the Government’s own Brexit impact analysis, this new study finds that the public finances are set to take a hit of tens of billions of pounds under every Brexit scenario.
“Despite the Government’s empty promises, Brexit means new regulatory barriers and a bureaucracy bombshell for British businesses. This will raise prices on everything from food to holidays, leaving households worse off.
“Rather than forcing the British public to accept a bad Brexit deal that leaves everyone worse off, we need a People's Vote on the deal so that the people of this country can decide whether or not it's good enough.
Notes to editors
More on this story can be read here.