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UK budget lacks an honest assessment of Brexit damage

March 12, 2020 1:00 PM
Originally published by Scottish Liberal Democrats

Responding to today's UK budget, Scottish Liberal Democrat leader Willie Rennie said:

"This budget arrives in the shadow of the coronavirus outbreak. It's essential that all workers are protected financially if they have to have time off. We don't want people risking their health and the health of others because they worry they are going to lose wages and income.

"What the Budget was missing was an honest assessment of the economic cost of Brexit, and the way in which Brexit limits the size of our economy and the amount we can invest in future prosperity. The Office for Budget Responsibility say that Brexit has frozen business investment and there are other big hits coming down the line.

"It's clear that Brexit will cut GDP growth and government revenues. We would have more money to invest in boosting the economy if it weren't for Brexit."