TORY HARD BREXIT TO HAMMER SCOTTISH FAMILIES WITH SOARING PRICE RISES

NEW REPORT REVEALS SCOTLAND TO BE AMONG HARDEST HIT BY BREXIT

The SNP has renewed calls on the Tories and Labour to ditch their damaging hard Brexit plans – after a new report revealed Scottish families will be hammered with soaring price rises if Scotland is dragged out of the single market and customs union.


The report published today (Wednesday), by the Institute for Public Policy Research (IPPR), reveals that post-Brexit price rises will squeeze incomes more in Scotland and Northern Ireland than anywhere else in the UK. Prices are expected to rise under any likely Brexit scenario – with a hard Brexit posing the biggest threat to living standards in Scotland.

The IPPR report concludes that the price of food and non-alcoholic drinks would likely rise by 5.3% under a hard Brexit, while the cost of transport is expected to rise by 7.7%. Expected rises in transport costs would contribute to a disproportionate impact on price rises on an average basket of goods and services in Scotland.

Commenting, local MP Brendan O’Hara, said:

“Reports and stark warnings from across multiple sectors are highlighting the risk of soaring post-Brexit price rises and an even bigger squeeze on our living standards.  

“Brexit is by far the biggest threat to both Scotland and Argyll and Bute’s economy and long-term prosperity. If the UK government drags us out of the single market and customs union, it will destroy thousands of jobs and hit the incomes, livelihoods and living standards of millions of people.

“Short of staying in the EU, as Scotland voted overwhelmingly for, remaining in the single market and customs union is the least damaging option – and the only way to protect jobs and prosperity.”

ENDS

Notes for Editors:

SNP Westminster Press Office – 02072190074

The report, ‘An equal exit? The distributional consequences of leaving the EU’, is available from the Institute for Public Policy Research (IPPR): Florri Burton: f.burton@ippr.org, 07867 388895. David Wastell: d.wastell@ippr.org, 07921403651. https://www.ippr.org/research/publications/an-equal-exit

 

Brendan O’Hara MP
Argyll and Bute

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