Hard Brexit would be “a disaster” for Sunderland, believes MP Julie Elliott.
The Sunderland Central MP this week joined Labour colleagues to sign a letter to fight against it -; with the move reported in The Guardian. See here: http://bit.ly/2f3ixM9
The letter states: “The ideology driving some Tory MPs to support a hard Brexit would be a disaster for working people.
“Falling back on World Trade Organisation rules would not be a clean break but the most destructive, harshest of settlements, which would lead to fewer jobs and less business investment, and would leave the British people poorer. This is not what they voted for in June.
“Tariffs would be imposed on products such as cars and aeroplane parts, and would hit major manufacturing sectors. Increased costs would be passed on to consumers through higher prices. The weekly shop is likely to become more expensive.
“Trade barriers would make it harder for businesses to grow, reducing employment. Having little access to the European single market would leave Britain deprived of privileged access to the EU markets, hitting jobs, growth and businesses.
“Whereas the UK is now an attractive destination for inward investment because we are a gateway to a market of 500 million consumers, reducing our access reduces our attractiveness for investment and therefore job creation. Combined, these factors will mean that British people will be poorer.
“Advocates of a hard Brexit need to swap rhetoric for answers. Which sectors do they think can survive facing new trade barriers? Which new trade deals will be signed, when and with whom?
“The referendum result was a cry from many communities that they wanted to share in future economic gains, not to remain left behind. A hard Brexit is the worst of all worlds and does nothing to honour their aspirations.”