The Impact of Holding Another Referendum on Brexit on the Welsh Economy

Part of 2. Questions to the Counsel General and Brexit Minister (in respect of his Brexit Minister responsibilities) – in the Senedd at 2:47 pm on 4 December 2019.

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Photo of Jeremy Miles Jeremy Miles Labour 2:47, 4 December 2019

Yes. I think the Member hits the nail on the head—the opportunity of putting the question back to the public allows people to evaluate the evidence as it now sits before us. And we are no longer talking about the speculative consequences of seeking to leave the European Union; we are already talking about the real-life consequences and we haven't actually left yet. So, we know that the economy is 2.5 per cent smaller than it otherwise would be. We had analysis recently that supports that. We know that business investment is about 26 per cent under trend, and that isn't numbers on a page; that is jobs, livelihoods and money in people's pockets.

And he is right to say that even on the UK Government's own analysis, even its best version of its deal, has a significant adverse impact on the economy. It is extraordinary to me that a UK Government could advocate a course of action that, on its own figures, causes damage to the economy of the UK.