Written Question·Treasury·UIN 48434
UK Trade with EU
Tabled: 28 April 2025
Answered: 1 May 2025
Named DayQuestion
Stephen Gethins
Scottish National Party — Arbroath and Broughty Ferry
To ask the Chancellor of the Exchequer, whether her Department has made a recent assessment of the potential impact of re-joining the EU single market on the UK economy, in the context of the UK-EU summit on 19 May 2025.
Answer
James MurrayThe OBR has estimated that productivity will be 4% lower in the long run than it would have been had the UK not withdrawn from the EU, and that imports and exports will eventually both be 15 per cent lower than had we stayed in the EU. As of the Spring Bu...
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