News

Economic fears that led to Brexit likely to be compounded by UK’s exit from EU

The economic fears and insecurities that led to Brexit are likely to be compounded when the UK leaves the union, a UN investigation has found.

The UN’s Rapporteur into Extreme Poverty and Human Rights in the UK, Philip Aston, said no matter what outcome Brexit achieves, other than the Utopian one which is most unlikely to happen,  Britain will be left worse off economically.

There’s going to be a fall in GDP, there’s going to be a fall in tax revenues, and that is likely to impact the worst off in society the most.

Aston said: “The problem is that there has been almost no discussion about what impact that’s going to have on low-income groups.

“They will, if present policies are maintained, bear the brunt of the economic fallout from Brexit”.

The UN’s report noted that the impact of Brexit on people in poverty is an afterthought to the government, which will be dealt with through manipulations of fiscal policy after the event, if at all.

It added: “People feel their homes, jobs, and communities are at risk.  Ironically, it was these very fears and insecurity that contributed significantly to the Brexit vote.”

Latest on UN investigation:

Full interim statement of UN Extreme Poverty Rapporteur’s investigation into British government makes shocking reading

UN warns of damage to “the fabric of British society” as the state turns on its people

Poverty is a political choice

Women “hardest hit” by government’s austerity cuts

Jack Peat

Jack is a business and economics journalist and the founder of The London Economic (TLE). He has contributed articles to VICE, Huffington Post and Independent and is a published author. Jack read History at the University of Wales, Bangor and has a Masters in Journalism from the University of Newcastle-upon-Tyne.

Published by