Brexit news: Tory MP warns Britain will need ‘a few years’ to digest economic hit | Politics | news

Alistair Burt said Brexit has cost the UK a lot of money as leaving the European Union has worsened trade relations and exacerbated the cost of living crisis. The former Conservative MP argued the economy would recover more slowly from recent inflation figures because of the nation’s decision to pro-independence. Speaking to LBC, Mr Burt said: “I think exiting the European Union is costing us something at this point.

“I think most of the big think tanks that have reported are suggesting the cost, I can’t remember the last figure, I think there was one that was suggesting £800m a month or something like that.”

He continued: “I think there is a general presumption among neutral commentators that there is currently a physical cost to the United Kingston of leaving the European Union in terms of the cost of goods and trade and such to the UK economy. “

Mr Burt pointed out that there was strong knowledge among political commentators that Brexit had hurt the Tory government’s economy.

He added: “The UK economy will not grow as fast outside the European Union as it does inside the European Union and this will take a number of years to work through.

“I would be absolutely convinced of that.”

The former MP defended his stance as a remainer, claiming his current view relates to the cost of living crisis and not to his referendum vote.

He said: “I make no secret of the fact that I voted to remain in the European Union and would not have gone.

“But the arguments about the cost of living crisis go beyond that.”

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Despite his criticism of Brexit, Mr Burt acknowledged external global factors that had also contributed to the gloomy economic picture.

Mr Burt said: “It will of course be fueled by this change in wholesale energy prices, it will be fueled by the impact of the war in Ukraine on commodity prices, which will be particularly detrimental to grain and the like.

“It has little to do with leaving the EU, and those costs come from something else.”

Despite these factors, the former MP insisted Brexit had significantly exacerbated the nation’s economic woes.

However, Mr Burt said he would not support a campaign to return to the European Union because it would create further confusion in economic policy.

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He said: “The arguments for a return to the EU, it would be so disruptive now to have any sort of topical campaign in relation to it.

“I don’t feel there’s an appetite for it in the UK, it’s not such a simple equation as if we get back together suddenly there’s a change in finances.

“That time has passed, I’m sorry and I don’t regret my view or my vote, but I don’t think it’s a viable option at the moment.

“It’s not an instant fix to the kind of problems people face every day.”

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