A new report published today (Thursday) by KPMG finds that the British public now think a no deal Brexit is likely and are planning to drastically cut down their spending as a result.
The survey finds that 54 per cent of people think a no deal Brexit is likely, compared to 20 per cent who said it’s unlikely. Seventy per cent think prices would rise and 69 per cent say they would change their consumer behaviour. Also 45 per cent believe a no-deal' scenario will be bad for the country compared with 25 per cent who think it will be good.
Commenting, Chuka Umunna MP, leading supporter of the People’s Vote campaign, said:
“The political establishment is leading our country towards a chaotic no deal Brexit, and the British people are bracing themselves for the impact.
“We are speeding head-first towards a botched Brexit or a no deal Brexit, and people are preparing to tighten their belts by cutting back on spending as a result. If we allow that to happen, the economic ripple effect will be felt for generations. Falling consumer spending would mean shops closing, high streets dying and jobs disappearing.
“The Brextremists will no doubt try to dismiss this, but the British people can see through their nonsense. That’s why an increasing number of people across the UK are rallying behind the campaign for a People’s Vote on the final Brexit deal.”