In @thetimesscot, a new @TheIFS report shows the economy is £60bn smaller than forecast because of #Brexit and shockingly ranks our economic prospects higher under a Labour-led government. 1/
"The public finances have deteriorated substantially" and a 'no deal' Brexit would necessitate huge fiscal stimulus seeing the national debt soar to 90% of GDP, wrecking our own government borrowing rules. 2/
The report shows current Conservative spending plans almost match the level of Labour's 2017 #magicmoneytree manifesto and "the government is now adrift without any effective fiscal anchor" 3/
Only 25% of people believe these spending pledges are affordable. We face an "extraordinary level of uncertainty" and the idea of a change to the higher rate income tax threshold would be a "substantial and expensive tax cut from which only those on high incomes would gain" 4/
While the uncertainty and extension continues, growth will remain sluggish. Business investment has fallen from among the highest to the lowest of developed countries in "its most sustained period of contraction outside a recession" 5/
A Brexit deal would lift growth however future trade relations remain unresolved and market access could weaken. The report found our best prospects lie with rejecting Brexit entirely - but the people need to have the #FinalSay 6/
Further research by the @jrf_uk found that Brexit is a lower priority for those low income Leave voters who traditionally back Labour, and warned it would be a mistake for any party to run a General Election campaign focussed on Brexit to target them. 7/
The Conservative Party needs to overcome its zeitgeist and restore our reputation as the party of opportunity and economic responsibility while dealing with the issues people see as more important than Brexit: the cost of living, health, crime, housing, and the environment. 8/
It's clear we need to #GetBrexitDone and the best way (perhaps the only way) to do that is with a #PeoplesVote. Whether ratifying a deal or revoking Article 50, to respect democracy the process must conclude the way it started: with the British people. 9/END
@threadreaderapp unroll please

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Andrew Bulman

Andrew Bulman Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(