Tuesday, October 31, 2017

No deal Brexit to cost Gateshead £1.09 billion

A report by the Centre for Economic Performance at the London School of Economics has predicted that Gateshead's economy would lose £1.09 billion over five years under a hard Brexit. The North East economy as a whole would lose £8 billion. Our region is the only part of the UK to export more manufactured goods than we import and our biggest market, by a long long way, is the EU. A no deal Brexit that means we are outside the Single Market will cost the North East dearly. Even a negotiated deal will not give us the quality, free trade arrangements we have now. We have to me a member of the club to get the full benefits.

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