Tory MP warns UK to take 'some years' to work through economic blow
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Alistair Burt declared Brexit had cost the UK dearly as the departure from the European Union has worsened trade relations and heightened the cost of living crisis. The former Conservative MP argued the economy would be slower to recover from recent inflation figures as a consequence of the nation’s choice for independence. Speaking to LBC, Mr Burt said: “I do believe that leaving the European Union is currently costing us.
“I think most of the major think tanks that have reported suggest the cost, I can’t remember the latest figure, I think there was one that suggested £800 million a month, or something like that.”
He continued: “I think there is a general presumption among neutral commentators that, at present, there is a physical cost to the United Kingston having left the European Union in terms of the costs of goods and trade and the like, to the UK economy.”
Mr Burt suggested there was a strong knowledge among political commentators that Brexit had been detrimental to the Tory Government’s economy.
He added: “The UK economy will not grow as fast outside the European Union as it would’ve done inside and that will take some years to work through.
“I would be perfectly convinced of that.”
The former MP defended his stance as a Remainer and claimed his current view was related to the cost of living crisis and not his referendum vote.
He said: “I make no secret of the fact that I voted to remain inside the European Union and I would not have left.
“However, the arguments about the cost of living crisis go beyond this.”
Read more: Sunak slated as Treasury using outdated policy failing to help Brits
Despite his criticism of Brexit, Mr Burt did acknowledge external global factors that had also contributed to the dismal state of economic affairs.
Mr Burt said: “It’s fueled, of course, by this change in wholesale energy prices, it’s fueled by the impact of the war in Ukraine on commodity prices, which will be particularly damaging in terms of grain and the like.
“This has little to do with leaving the EU and those costs are created by something different.”
Despite these factors, the former MP was adamant that Brexit had significantly worsened the economic concerns for the nation.
Mr Burt however said he would not support a campaign to return to the European Union as this would cause further confusion in economic policy.
Don’t miss:
Burley slams ‘disingenuous’ SNP MP backing return into EU [INSIGHT]
Reeves on the spot as she’s challenged to explain Labour growth plan [REVEAL]
Sunak to bring in ‘inevitable’ windfall tax to cover soaring costs [REPORT]
He said: “The arguments for returning to the EU, it would be so disruptive now to run any sort of current campaign in relation to it.
“I don’t get the sense there’s an appetite for it in the UK, it is not as simple an equation as if we rejoined, suddenly there would be a change in finances.
“That time has passed, I’m sorry it has and I don’t regret my view or my vote but I do not think at the moment it’s a viable option.
“It’s not an instant solution for the sort of problems people are facing on a day-to-day basis.”
Source: Read Full Article