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Old Bexley and Sidcup, December 2021

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Answers to Old Bexley & Sidcup Election Quiz

1. C – Birmingham
In January 2011 £1.3tn in financial assets – the stored wealth of centuries – left UK shores
according to Ernst & Young. Given that the entire lifetime contribution to GDP by each person on
average is £1m (ish), that’s the equivalent of 1.3m people’s entire lifetime activities.
(Birmingham’s population is just over 1m)

2. D – £800m a week
An Independent article published in June this year reviewed all of the claims of the vote leave
campaign and expert analysis of them to conclude £800m had been lost. They even helpfully had
a picture of a bus with -£800m on it for those needing a helpful summary.

3. D – £178
Official government figures from the OBR show that for each £1 gained in new trade deals, the
UK has lost £178 in previous arrangements with EU suppliers and traders. The new trade deals
also represent less than 50p per person per year – well worth sacrificing a lifetime of study, work
and cultural opportunities for?

4. B – 4%
The Office of Budget responsibility has concluded that there will be a 4% reduction in Britain’s
long term GDP potential : twice as big as the short term COVID impact. This is equivalent to hard
wiring in a loss in 1 in every 25 jobs.

5. D – never!
The long term negative impact on the economy, society and the opportunities for our young
people will NEVER be gone until Brexit is reversed. Even then, Brexit will live on as a global fable
of how dumb a decision can be!

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