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Labour's promises can't be kept while they back Brexit. Less money in your pocket, less taxes for vital services

December 3, 2019 8:43 PM

Ed Davey"The Brexit squeeze on living standards has already left UK households £1,500 poorer," Liberal Democrats Shadow Chancellor Ed Davey has said. " Either a Tory or Labour Brexit would mean less money in people's pockets and less tax revenue to fund our public services. So Labour's promises of spend, spend, spend are worth nothing so long as they keep being committed to negotiating "their" Brexit

"Only the Liberal Democrats will stop Brexit and invest the £50 billion Remain bonus in our public services and tackling inequality."

Sources : The Resolution Foundation has estimated that household incomes are around £1,500 year lower today than they were expected to be before the Brexit referendum

The UK in a Changing Europe has forecast that GDP would be up to 1% lower by 2024-25 under a Labour Brexit compared to the Liberal Democrats' plans to stop Brexit and stay in the EU. This would mean there would be up to £9 billion more tax revenue to spend in 2024-5

The Liberal Democrats forecast that the economy will be 1.9% larger in 2024-25 if we stop Brexit than it would be under the Conservative Government's Brexit deal. That means government receipts will be higher too, providing a £50 billion Remain Bonus over the next five years.