Umunna – New NAO report shows £40 billion Brexit bill “just the tip of the iceberg”

A new report out today (Friday) from the National Audit Office has found that “the total amount the UK will pay in the financial settlement on leaving the EU remains uncertain…The UK could have to pay towards other costs, which are not in the estimate, such as potential liabilities that may depend on future events.”

Commenting, Chuka Umunna MP, leading supporter of the People’s Vote campaign, said:

“The Government’s whopping £40 billion Brexit bill is just the tip of the iceberg: Brexit is already costing our economy hundreds of millions of pounds a week in lost growth, and as the Government itself has now admitted, crashing out of the Single Market and the Customs Union will damage our economy for many years to come.

“Every penny wasted on Brexit is money that could have been spent on our vital public services like the NHS, but instead the Government want us to spend billions for a much worse relationship than we have with the EU already. That’s not the Brexit people were promised.

“As the real costs of Brexit continue to stack up, we are all entitled to keep an open mind. The best way to decide whether we accept the deal is to let the public decide through a People’s Vote.”

/ends