Economy Impact of UK Withdrawal from EU 2023-02-07
2023-02-07
TAGS
Response quality
Questions & Answers
Q1
Partial Answer
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Context
The MP asks about recent assessments made on the UK's economy post-Brexit departure from the EU.
What recent assessment has been made by the government regarding the economic impact of the UK's departure from the EU?
Busy day for me. With permission, I would like to answer this with question 16. Leaving the EU has enabled the UK to realise an array of economic opportunities—not just the Solvency II reforms, but 71 trade deals with non-EU countries worth £240 billion to the UK economy in 2021.
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Assessment & feedback
The answer did not provide a recent assessment or statistics on economic impact of Brexit.
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Avoided Specifics
Response accuracy
Q2
Partial Answer
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Context
The MP references Bloomberg analysis and Office for Budget Responsibility forecasts to argue that Brexit has significant negative economic impacts.
Analysis by Bloomberg estimates Brexit is costing the UK £100 billion a year in lost output, while OBR predicts a 4% smaller economy due to Brexit. The Centre for Economic Performance warns of added £6 billion food costs post-Brexit. How much more damage will need to be done before this Government acknowledges the reality that Brexit is an economic drag?
Thank you for correcting me, Mr Speaker.
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Assessment & feedback
Did not address any economic cost or damage caused by Brexit.
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Response accuracy
Q3
Partial Answer
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Context
The MP apologises for past unkindness and asks if all parties can acknowledge that the UK is poorer due to Brexit.
I apologise for past harsh comments but Labour believes in admitting we are poorer because of Brexit. Can both sides admit this and work on it?
All I would say is that, if Labour really are against Brexit, they should have the courage of their convictions and say they want to re-join the EU. That is the problem: because they do not believe they can make a success of it, they will never be able to run the British economy under it.
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Assessment & feedback
Did not admit negative economic impacts from Brexit.
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Q4
Partial Answer
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Context
The MP welcomes the government's commitment to innovation but expresses concern over R&D tax credit reform.
I welcome the fact that this Government are committed to making the UK an innovation nation with a new Department. My constituency has 400 life science companies, and there are concerns about R&D tax credit reforms. Can my right hon. Friend reassure them that the Government still support research and development while tackling fraud?
My hon. Friend is a formidable advocate for that sector, and I want to give him that reassurance. We protected our R&D budget at its highest ever level in the autumn statement. We are looking at how we can support R&D small companies without fraud happening.
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Assessment & feedback
Did not provide concrete assurances or specific measures to tackle concerns about reforms.
Avoided Specifics
Response accuracy
Q5
Partial Answer
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Context
The MP thanks the Chancellor for awarding £50 million to Morecambe for the Eden Project and asks about VAT tapering proposals.
I thank the Chancellor for awarding Morecambe £50 million for the Eden project. Can my right hon. Friend meet me to discuss my formula for VAT tapering to help small businesses?
First, I congratulate my hon. Friend on his campaigning for Eden Project North, which is a model for MPs standing up for their constituencies; he deserves huge congratulations. I will happily look at his proposals on VAT tapering. We already have the highest VAT threshold in the G7.
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Assessment & feedback
Did not commit to specific meeting or detailed discussion of proposals.
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Response accuracy