Debates between Jeremy Hunt and Steven Bonnar during the 2019-2024 Parliament

Oral Answers to Questions

Debate between Jeremy Hunt and Steven Bonnar
Tuesday 7th February 2023

(1 year, 9 months ago)

Commons Chamber
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Jeremy Hunt Portrait The Chancellor of the Exchequer (Jeremy Hunt)
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Busy day for me. With permission, I would like to answer this with question 16.

Leaving the EU has enabled the UK to realise an array of economic opportunities—not just the Solvency II reforms, but 71 trade deals with non-EU countries worth £240 billion to the UK economy in 2021.

Steven Bonnar Portrait Steven Bonnar
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I thank the Chancellor for that answer, but analysis by Bloomberg estimates that Brexit is costing the UK £100 billion a year in lost output. The Office for Budget Responsibility forecasts the UK economy will be 4% smaller in the medium term, again due to the impacts of Brexit. The Centre for Economic Performance has warned that Brexit has added almost £6 billion on to UK food bills in the two years to the end of 2021. How much more damage will need to be done before this Government take off the red, white and blue goggles and see the reality that Brexit is an economic drag of disastrous proportions for the countries of the UK?

Lindsay Hoyle Portrait Mr Speaker
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Chancellor, it is 14, not 16, but do carry on.