Research Showing £11.2bn Cost of Brexit Highlighted by MSP

Inverclyde’s MSP Stuart McMillan has raised concerns about the economic impact of Brexit to Scotland – after Scottish Government analysis drawing on research from a range of external organisations showed that leaving the EU could cost the Scottish economy as much as £11.2 billion per year by 2030.

The figures, which also showed Scotland’s public finances could fall by as much as £3.7 billion per year, are further evidence that in order to protect jobs and livelihoods across Inverclyde, Scotland’s position in the EU must be maintained. The analysis points to damage to exports, reductions in investment and reduced economic growth as major concerns.

Commenting, Stuart said:

“This analysis by the Scottish Government makes it perfectly clear why it is absolutely imperative that Scotland’s position in the EU is secured. If not, then it is obvious that jobs, investment and growth will be threatened.

“To see that up to £11.2 billion could be lost from Scotland’s economy every year is very worrying indeed – and shows how unbelievably misguided the Tory government’s plans are.

“Greenock and Inverclyde benefits massively from Scotland’s membership of the European Union, opening up markets and making it easier for businesses to invest in our skilled workforce. This research has shown that the only way to protect the economy of Inverclyde is for Scotland to protect our relationship with the EU.

“The Scottish Government is quite rightly exploring all options in order to keep Scotland in the EU and to ensure that we are not dragged out against our will. It would be intolerable for this to happen, and the Scottish Government analysis shows the deeply damaging impact this would have on jobs, investment and prosperity in Inverclyde and across Scotland.”

ENDS

Scottish Government research is available here: http://www.gov.scot/Resource/0050/00504615.pdf

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s