Cross-Party Commission responds after OBR forecasts worse economic damage from Brexit than the pandemic

Responding to comments from the Office for Budget Responsibility that Brexit would have double the negative impact on the UK economy compared to the pandemic, Hilary Benn MP, Chair of the UK Trade and Business Commission, said:

“This projection from the UK’s fiscal watchdog chimes exactly with what we’ve been hearing from industry experts and business leaders for the last 6 months. The Government’s wilful obsession with making trade with the EU more difficult will leave us poorer and we will be picking up the pieces for many years to come. 

“As with any recovery process, the first step is admitting that you have a problem. Ministers must stop using the pandemic as an excuse, acknowledge these findings, and work with business to improve their bad deal.”