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NEW REPORT LAYS BARE THE UNTOLD DAMAGE OF BREXIT

NEW REPORT LAYS BARE THE UNTOLD DAMAGE OF BREXIT

Published date : 21 May, 2024

ONLY INDEPENDENCE WILL ALLOW SCOTLAND’S ECONOMY TO REALISE ITS FULL POTENTIAL

Gordon MP and SNP Westminster spokesperson on Business and Trade Richard Thomson has warned that Brexit is doing untold damage to Scotland’s economy, after a new report from the National Audit Office revealed the billions of pounds it is costing households and businesses.

The report says that over £4.7 billion of public money is forecast to be spent on post-Brexit border arrangements, with traders facing growing additional costs and administrative burdens as it remains unclear when full import controls will be in place – their implementation delayed five times already.

HMRC estimates that customs declarations could cost UK businesses £7.5 billion every year, with 39 million declarations made in 2022 alone. On top of that, controls introduced this year on sanitary and phytosanitary goods are estimated to cost traders around £469 million once fully implemented.

Commenting, Richard Thomson MP said:

“Brexit is causing long-term damage to Scotland’s economy, harming trade with our biggest international trading partner and piling ever-growing costs on Scottish businesses.

“This is holding back our economy and businesses, who are already grappling with the consequences of woeful economic mismanagement by Westminster.

“With the Conservatives and Labour wedded to the long-term economic decline of Brexit and backward economic policies that hamper growth, Scotland must look beyond broken Britain to a brighter future.

“The SNP is the only party offering a route back to EU prosperity, a growing economy and flourishing Scottish businesses with independence – and we remain committed to making this a reality for the people of Scotland.”

The report can be read here

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