(7 years ago)
Commons ChamberWe have all heard the famous phrase “a week is a long time in politics”. Well, it has now been almost 18 months since the public voted to leave the EU and in that time lots of new issues have come to light. From leaving the single market and customs union, to the renewed tensions over the Irish border, we know things now that voters could not have been expected to know all those months ago. We also know that the Brexit divorce bill is likely to cost the Treasury upwards of £50 billion. That is almost £2,000 per household that could have been put to more positive use but instead becomes the opportunity cost of Brexit. Some people will say, “That’s money that would have been paid to the EU anyway”, and to some extent they are right. The difference is, however, that the money we paid to the EU in the past bought us collective benefits and access to shared resources, such as Euratom and the European Medicines Agency, that are now at risk as a result of Brexit.
I thank the right hon. Gentleman for his remarks. We have no idea how much extra it is going to cost us to establish our own agencies to cover the roles of the many European agencies we have shared. This opportunity cost is not simply about the raw cash we need to spend; it is also about the time and other resources devoted to making this happen. When I stood for election to Parliament, I had in my mind a long list of issues I wanted to address and ideas I wanted to drive forward to make this country a better and fairer place. Instead, I find that much of the time in this House is now being devoted to tackling the myriad problems that have arisen, and working to reduce the harm that may come to our country and our economy from leaving the EU.
This whole process is not just an opportunity cost—it is also an opportunity lost. Nobody in my constituency who voted to leave the EU voted to make our NHS worse off. They wanted to see it improve and, if anything, were persuaded by a somewhat misleading figure on the side of a bus, but the threats to our health services are very real. Just yesterday, Dr Jeanette Dickson, from the Royal College of Radiologists told the Health Committee that the isotopes we import for cancer treatments could be rendered useless by delays in the customs process. Quite simply she told us, “If we do not have an assured supply, the reduction in rate of cure means more people will die of thyroid cancer.” That is thousands of lives every year that will be at risk if we get this wrong.
Voters did not vote to make their family poorer either; they genuinely wanted to see our economy thrive and believed that exiting the EU would bring renewed prosperity for their families. But with slowed economic growth, a collapse in the value of the pound and rising costs of imports, that flourishing economic future seems a far cry from this Government’s current performance.