10. Plaid Cymru Debate: Rejoining the single market

Part of the debate – in the Senedd at 5:39 pm on 6 July 2022.

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Photo of Cefin Campbell Cefin Campbell Plaid Cymru 5:39, 6 July 2022

As we've already heard, but it's worth mentioning again, as our manufacturing and small business sectors face endless bureaucratic challenges, it's no wonder that business exports to the EU by small companies are expected to be 38 per cent lower by 2030. Next year, the Organisation for Economic Co-operation and Development calculates that the UK will record the lowest growth in the G20, with the exception of Russia. The Office for Budget Responsibility says Brexit will cut UK GDP by 4 per cent over the coming years; this equates to about £100 billion in lost outputs, and £40 billion less revenue to the Treasury. The Centre for European Reform said that, by the end of last year, the UK economy was 5 per cent or £31 billion smaller because of Brexit. Now, I heard earlier on Mark Isherwood desperately trying to list the advantages of leaving, but this is the reality, reported by not Mickey Mouse organisations, but highly respected think tanks. The Brexiteers promised there would be no downside to leaving the EU and the single market, only sunlit uplands. How they lied to us; how they deceived so many people in so short a time.