Max Wilkinson

Just this weekend, The Telegraph reported a secret plot to reverse Brexit by taking this country into a customs union with the EU. Sign me up for that, because we would generate plenty of investment and renewal if we did. If only that were the case. As everyone on the Government Benches and in this House knows, there is an alternative to some of the pain in the Budget. The Labour party knows that it does not really need to hike taxes on hard-pressed households or batter businesses. There is a better way. Depending on which economist we ask, the impact of Brexit has been a hit to GDP of as low as 4% or as high as 8%. What is the Government’s answer? A deal with Europe amounting to a boost to GDP of about 0.3% and a trade deal with India amounting to about 0.13%. Let us not forget the deal with Trump’s America that might be worth something or not very much at all, yesterday, today or tomorrow, depending on how well the President’s Happy Meal is going down. Those piddling trade deals are used as evidence for not pursuing closer integration with the economic bloc that covers 41% of our exports and 51% of our imports. Such freedoms we have gained: the freedom for Britain to punch itself in the mouth for ever while Reform and the Conservatives tell us that the pain we feel is the sweet taste of freedom champagne and liberty oysters. At least the Government now acknowledge that there is a problem, but the delusion continues while they argue that anything other than the obvious is the solution. What is the result of that delusion? British businesses are mired in post-Brexit regulation. The cost of living is up, the size of the state has ballooned, much to the annoyance of the Conservatives who told us it would get smaller, tax is at record levels and our economy is more vulnerable to international shocks. We are all poorer, apart from the hon. Member for Clacton (Nigel Farage), who is not here but whose profitable grift continues.