Umunna – Government presiding over what promises to be worst five years for our economy since the war thanks to Brexit

Chancellor Philip Hammond delivered his Spring Statement today. The accompanying OBR report predicted UK GDP growth to be 1.5% or below for the next five years, the worst performance since the Second World War. It also detailed how payments for the so-called Brexit ‘divorce bill’ are set to continue until 2064.

Commenting, Chuka Umunna MP, leading supporter of Open Britain, said:

“The Chancellor and this Government are presiding over what promises to be the worst five years for our economy since the war and all thanks to Brexit.

“Today he confirmed that growth will be far slower over the coming years than was being forecast two years ago.

“The Brextremists promised us an additional £350 million for the NHS paid for out of our contributions to the EU yet we now know that if Brexit goes ahead we’ll be paying money to the EU until 2064 and there won’t be an extra penny for our health service.

“As the economic cost of Brexit continues to bite, with falling real wages, slow growth and high inflation, and a huge divorce bill in return for a worse relationship with the EU, we are all entitled to ask whether this is the right path for the country.”

/ends

 

Notes to editors:

The full OBR report can be read here.