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29 June 2017

New Report: Bad Brexit Deal Could See Economy Take "Sharp Turn for the Worse"

Fraser of Allander Analysis Underlines
Importance of Single Market Deal

A bad Brexit deal could see Scotland’s economic prospects “take a sharp turn for the worse”, according to new analysis by the Fraser of Allander Institute – underlining the importance of securing single market membership.
The report also warns that rising inflation, driven by the collapse of the pound since Brexit, means “the outlook for household budgets looks especially tough”.

Commenting, SNP MSP Stewart Stevenson said:

“This is just the latest warning that a bad Brexit deal could have devastating consequences for our economy – which is exactly why the Scottish Government will be fighting tooth and nail to protect our single market membership.

“The Tories put their plan for a hard Brexit to the public and lost their majority.

“It would be a grave mistake for Theresa May to push on with her disastrous plans to leave the single market – and it could cost tens of thousands of jobs in Scotland.

“It’s time for the UK government to adopt a cross-party, four-nation approach to negotiations – and to protect our single market membership as we leave the EU.”
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