Government analysis showing the UK will be poorer economically under any form of Brexit proves that we are on a self-inflicted path to destruction.
Official figures revealed today say the UK economy could be up to 3.9 per cent smaller after 15 years under Theresa May’s Brexit plan, compared with staying in the EU.
But a no-deal Brexit could deliver a 9.3 per cent hit.
Independent experts have said that 3.9 per cent of GDP would equate to about £100 billion a year by the 2030s.
Loosely translated that means Britain is about to wilfully lose the economic output of Wales or the City of London if it maintains its current course.
The government data finds that GDP will be lower in 15 years under all Brexit scenarios than it would be with EU membership. And in all cases, national income will be reduced if migration from Europe is reduced from its current levels.
With many Brits struggling to make ends meet the analysis will come as a crushing blow as livelihoods are set to be significantly disrupted.
Speaking to The London Economic, the UN’s Rapporteur into Extreme Poverty and Human Rights in the UK, Philip Aston said: “I think Brexit is going to make the plight of those living in poverty even worse, as EU structural equality funds dry up, GDP falls further, and less tax revenues are available to finance government.
“If that leads to poverty being even more manifest through growing lines at foodbanks, more homelessness, more rough sleeping, and even higher rates of child poverty, the government will have to begin addressing the issues rather than just repeating the message about there being more people in work than ever before.
“The good news statistics don’t magically cancel out the truly bad news statistics that are consistently being reported by all of the major objective sources.”