A Tory Minister has accused Brexit critics of “scaremongering” as she pointed out trade is up since leaving the European Union.
Wealden MP Nus Ghani, who serves as Rishi Sunak’s Industry Minister, told the Commons that UK trade is thriving since exiting the bloc.
She also dismissed fairly widespread economic concerns about Brexit, with over half of Britons blaming the UK’s 8.7 per cent inflation figure on severing ties with Brussels.
Ghani said: “Having regained our regulatory sovereignty now that we have left the EU, we are now able to ensure that our regulation is tailored to the UK economy, supports our businesses and protects our consumers and having left a single market we can focus on UK trade with the world, where trade is up 24 per cent.
“So the answer to this question is the effect is total trade is up post Brexit.”
Ghani was addressing the impact of Brexit on business and trade from Alba Party MP Neale Hanvey.
Hanvey said “resilient and effective routes to market are essential for trade”, arguing the current congestion levels in Dover were “a significant barrier to effective trade”.
The Kirkcaldy & Cowdenbeath MP added: “Will the minister meet with me to discuss how we reintroduce direct links from Scotland to mainland Europe and ensure trade is friction-free from Scotland?”
Ghani proceeded to reiterate her position, saying: “I don’t think he heard my answer. Trade is up. The reality is this scaremongering just has to stop.
“The scaremongering is basically a cover for petty nationalism and I would ask him to remember to be passionate about the market that matters.
“That is between Scotland and England and if he was passionate about Scottish businesses and Scottish jobs, he would be passionate about the single market that matters.”
Supporting Ghani’s intervention, Business Minister Kevin Hollinrake added: “The UK’s total exports are now recovered to pre-pandemic levels.
“Measured against 2018, in 2022 UK exports were £815bn, up 21 per cent in current prices, and up 0.5 per cent once adjusted for inflation.
“There is no doubt UK exports continue to excel and will continue to do so.”
Despite optimism within the Conservative Party, leading economists have warned Brexit has been an “economic disaster”.
Volker Treier, head of foreign trade at the German Chamber of Industry and Commerce (DIHK), said: “Brexit is an economic disaster for both sides of the channel.”
He added: “The UK's exit from the EU has made our close trade relations more difficult and there is still considerable planning and legal uncertainty in the UK business of German companies.”
A separate study by researchers at the London School of Economics suggested Brexit food trade barriers have cost UK households £7billion.
The figure would mean bills have increased by an average of £250.
The report claimed: “Between December 2019 and March 2023 food prices rose by almost 25 per cent.
“This analysis suggests that in the absence of Brexit this figure would be 8 percentage points (30 per cent) lower.”
from GB News https://ift.tt/SBygMwF
A Tory Minister has accused Brexit critics of “scaremongering” as she pointed out trade is up since leaving the European Union.
Wealden MP Nus Ghani, who serves as Rishi Sunak’s Industry Minister, told the Commons that UK trade is thriving since exiting the bloc.
She also dismissed fairly widespread economic concerns about Brexit, with over half of Britons blaming the UK’s 8.7 per cent inflation figure on severing ties with Brussels.
Ghani said: “Having regained our regulatory sovereignty now that we have left the EU, we are now able to ensure that our regulation is tailored to the UK economy, supports our businesses and protects our consumers and having left a single market we can focus on UK trade with the world, where trade is up 24 per cent.
“So the answer to this question is the effect is total trade is up post Brexit.”
Ghani was addressing the impact of Brexit on business and trade from Alba Party MP Neale Hanvey.
Hanvey said “resilient and effective routes to market are essential for trade”, arguing the current congestion levels in Dover were “a significant barrier to effective trade”.
The Kirkcaldy & Cowdenbeath MP added: “Will the minister meet with me to discuss how we reintroduce direct links from Scotland to mainland Europe and ensure trade is friction-free from Scotland?”
Ghani proceeded to reiterate her position, saying: “I don’t think he heard my answer. Trade is up. The reality is this scaremongering just has to stop.
“The scaremongering is basically a cover for petty nationalism and I would ask him to remember to be passionate about the market that matters.
“That is between Scotland and England and if he was passionate about Scottish businesses and Scottish jobs, he would be passionate about the single market that matters.”
Supporting Ghani’s intervention, Business Minister Kevin Hollinrake added: “The UK’s total exports are now recovered to pre-pandemic levels.
“Measured against 2018, in 2022 UK exports were £815bn, up 21 per cent in current prices, and up 0.5 per cent once adjusted for inflation.
“There is no doubt UK exports continue to excel and will continue to do so.”
Despite optimism within the Conservative Party, leading economists have warned Brexit has been an “economic disaster”.
Volker Treier, head of foreign trade at the German Chamber of Industry and Commerce (DIHK), said: “Brexit is an economic disaster for both sides of the channel.”
He added: “The UK's exit from the EU has made our close trade relations more difficult and there is still considerable planning and legal uncertainty in the UK business of German companies.”
A separate study by researchers at the London School of Economics suggested Brexit food trade barriers have cost UK households £7billion.
The figure would mean bills have increased by an average of £250.
The report claimed: “Between December 2019 and March 2023 food prices rose by almost 25 per cent.
“This analysis suggests that in the absence of Brexit this figure would be 8 percentage points (30 per cent) lower.”
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