The risks of Scotland crashing out of the EU without the UK government securing a deal have been revealed in a damning report by the London School of Economics (LSE).
The report concludes that over a five-year period Scotland will lose out on over £17,000 million with a soft Brexit situation that maintains the UK in the single market and by a devastating £29,400 million if no provisions are made to halt a hard Brexit.
North Ayrshire is set to lose 3% in value of its goods and services under a soft Brexit scenario, equivalent to £300 million, or 5%, £510 million, if the Prime Minister walks away with no deal, leading inevitably to higher unemployment and lower living standards.
The SNP demands that the UK government now publish its own analysis into the impact of Brexit on Scotland.
Commenting, Kenneth Gibson MSP said:
“This devastating report and it confirms once again that Scotland is about to pay a heavy price for being dragged out of the European single market. “It is bad enough that the Tory Government refuses to commit to investing in the Ayrshire Growth Deal, for which my SNP colleagues and I have long argued and the SNP Government has pledged its support. To saddle North Ayrshire with a £300 million shrinkage in our local economy on top shows a complete disregard for communities and businesses. In saying that I am being generous. The way negotiations are going it is more likely that number will increase to £510 million.
“The fact that we had to rely on this LSE report while the Tory Government refused to share this information with us, is merely the latest in a long line of displays of their utter disdain for the people of Scotland.”
ENDS
