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.”