PLEDGE 5: A PRACTICAL BREXIT DEAL WITH A PEOPLE’S VOTE
Labour will sort a sensible solution to Brexit in 6 months so we can maximise the benefit to the economy and invest in our public services.
We need a practical deal to prevent us having to levy tariffs at our borders and keep a level playing field of standards so UK companies can bid for contracts that insist on EU regulations, and to prevent lower standard foods from being imported to undermine our farmers. Labour agreed such a deal in cross-party talks with Theresa May’s government. We will finalise that deal with the EU in 3 months and put it to a People’s Vote in 6 months, with the option to remain in the EU, which I would campaign for.
Boris Johnson’s Brexit ‘deal’ is just a stop-gap
until the end of next year. We would have to negotiate a full trade deal in 11 months (that usually takes 7 years), or face another No Deal cliff-edge this time next year.
We would face years of uncertainty and it’s bad for our economy as the graph below shows. Under Boris Johnson we will still have high borrowing but without the investment in our infrastructure and public services to show for it as the graph below from the IFS shows.