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July 30th, 2024
Labour is putting the UK economy at risk by backing Brexit, Rejoin EU Party says
The Rejoin EU Party estimates the £40bn in tax revenue the UK could generate annually by re-joining the EU could provide £350m a week for the NHS
Labour is failing to act in the national interest and putting the economy at risk by ruling out re-joining the EU, the Rejoin EU Party says.
Chancellor Rachel Reeves yesterday announced £5.5 billion of cuts to address what she claimed was a public-spending gap of about £22bn inherited from the Tories, despite Labour’s pre-election pledge to kick-start economic growth with more investment.
In an assessment of Labour’s manifesto published before this month’s general election, the Institute for Fiscal Studies think-tank said the growth outlook is uncertain, leaving Labour potentially facing the need for cuts or tax hikes to fulfil its spending pledges.
However, the Rejoin EU Party believes such measures would be unnecessary if Prime Minister Keir Starmer dropped his inexplicable refusal to re-join the single market, the customs union and the EU.
Research shows the UK economy has lost £40bn a year in tax revenue and is almost £140bn smaller since Brexit than if the UK hadn’t left the EU – and the longer-term economic picture could be even worse due to soaring government debt, which hit 101.3% of GDP at the end of last year.
Former Conservative MEP and Rejoin EU Party supporter John Stevens said: “The hole in the public finances is larger than £20bn owing to the urgent need to reduce debt, which is now at levels that risk international markets’ confidence.”
The Rejoin EU Party estimates the £40bn in tax revenue the UK could recover annually by re-joining the EU could provide £350 million a week for the NHS (£18.2bn a year), £6bn for local and devolved government services, a 1p income-tax cut (about £6bn) and net EU contributions of about £10bn.
Rejoin EU Party chairman Andrew Smith said: “Re-joining would allow us to improve public services and reduce the tax burden.”
Party leader Brendan Donnelly said: “Starmer’s European policy has been dictated for too long by what he thought was his party’s electoral interest. Now the election is won, it’s time for the national interest and common sense to prevail. Brexit is a ball-and-chain on the British economy. It needs to be removed as soon as possible.”
Chancellor Rachel Reeves yesterday announced £5.5 billion of cuts to address what she claimed was a public-spending gap of about £22bn inherited from the Tories, despite Labour’s pre-election pledge to kick-start economic growth with more investment.
In an assessment of Labour’s manifesto published before this month’s general election, the Institute for Fiscal Studies think-tank said the growth outlook is uncertain, leaving Labour potentially facing the need for cuts or tax hikes to fulfil its spending pledges.
However, the Rejoin EU Party believes such measures would be unnecessary if Prime Minister Keir Starmer dropped his inexplicable refusal to re-join the single market, the customs union and the EU.
Research shows the UK economy has lost £40bn a year in tax revenue and is almost £140bn smaller since Brexit than if the UK hadn’t left the EU – and the longer-term economic picture could be even worse due to soaring government debt, which hit 101.3% of GDP at the end of last year.
Former Conservative MEP and Rejoin EU Party supporter John Stevens said: “The hole in the public finances is larger than £20bn owing to the urgent need to reduce debt, which is now at levels that risk international markets’ confidence.”
The Rejoin EU Party estimates the £40bn in tax revenue the UK could recover annually by re-joining the EU could provide £350 million a week for the NHS (£18.2bn a year), £6bn for local and devolved government services, a 1p income-tax cut (about £6bn) and net EU contributions of about £10bn.
Rejoin EU Party chairman Andrew Smith said: “Re-joining would allow us to improve public services and reduce the tax burden.”
Party leader Brendan Donnelly said: “Starmer’s European policy has been dictated for too long by what he thought was his party’s electoral interest. Now the election is won, it’s time for the national interest and common sense to prevail. Brexit is a ball-and-chain on the British economy. It needs to be removed as soon as possible.”
Visit our website at www.therejoineuparty.com, do the party’s ‘Brexitometer’ survey here, email us at admin@therejoineuparty.com and follow the party on Twitter at @rejoinp
The Rejoin EU party is campaigning to re-join the EU because we believe re-joining is the only way to solve the multiple problems Brexit has created. Brexit is broken and it’s breaking our country too. All the promises on which Brexit was sold to the electorate in 2016 were nonsense. Far from reducing red tape and providing £350m a week for the NHS, Brexit makes trading with the crucial European market more complex, difficult and expensive and threatens to reduce funding for public services. If you agree Brexit is making our country poorer, less tolerant and less united, join us and send a message to Westminster that you want your EU membership back, with all its freedoms and benefits.
MAXINE Fearn
I cannot believe that Keir Starmer is refusing to rejoin the EU! It’s unbelievable that any leader, cannot see the HUGE disadvantage of us not going back to the biggest trade market in the world. There are apparently, lots of people, who have now seen the reality of us leaving, and want to rejoin, and regret voting leave. As that referendum was mostly based on lies, from politicians who were going to profit from leaving, it was NOT a true and proper referendum. One that was SUPPOSED to be advisory, and not activated, the way it was! NOTHING about that referendum was right, and that is why people like myself, and millions of others, will NOT let it drop. It’s been the BIGGEST mistake in the history of the UK, and I thought that Labour might have been the party to rectify that!!!