Monday, December 02, 2024
Ongoing huge cost of Brexit divorce
The Independent reports that Britain has set aside more than £10bn for post-Brexit payments to the EU as the UK continues sending billions to Brussels despite leaving the bloc years ago.
The paper adds that to cover the cost of the UK’s divorce from Europe, the government has accounted for £10.6bn in future payments for Brussels staff and diplomats’ pensions, as well as Britain’s pre-existing financial obligations:
Official government figures this week revealed that the provision for ongoing “EU liabilities” has fallen from £31.7bn a year ago and £38.7bn the year before.
But the figure still stands at more than £10bn, with critics saying the UK is still “paying vast sums for a terrible Brexit deal”. The revelation comes after Rachel Reeves’ Budget piled £40bn of new taxes on households and businesses - with the chancellor claiming the changes were necessary to fill a black hole in the public finances left by the Conservatives.
SNP MP Stephen Gethins, an ardent anti-Brexit campaigner, added: “Not only is Brexit taking away our rights, hurting business and removing opportunities from young people, it’s also costing a fortune.
“We are unnecessarily crippling our economy and paying billions for the privilege.”
Former armed forces minister Sir Nick Harvey said that as well as ongoing payments to the EU, Brexit is still having a significant impact on the economy.
The Independent last month revealed that government estimates show Brexit will cut UK trade by 15 per cent in the long run. This paper then uncovered figures from the independent spending watchdog showing that just 40 per cent of the economic damage of Brexit has materialised, with the majority of the impact yet to be felt.
Former Lib Dem MP Sir Nick told The Independent the government is “tinkering around the edges” and that “addressing the economic damage done by Brexit must become a priority”.
And, amid Sir Keir Starmer’s post-Brexit reset with the bloc, Sir Nick said a return to the single market and customs union must be on the table.
This money could be better spent on public services, instead we are having to pay out vast sums, without getting any of the benefits of membership in return, while at the same time crippling our economy by not being part of the single market.
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Pity Labour cannot face the reqality of Brexit intead of pursuing the impossible better Brexit
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# posted by 
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