Brussels nightmare: Losing UK will cost £60 billion in just two years – bombshell analysis

Ursula von der Leyen calls EU ‘team Europe’

When you subscribe we will use the information you provide to send you these newsletters.Sometimes they’ll include recommendations for other related newsletters or services we offer.Our Privacy Notice explains more about how we use your data, and your rights.You can unsubscribe at any time.

And pro-Brexit think tank Facts4EU has concluded that the EU’s economy has already shrunk by well over £2 trillion as a result of the UK’s decision to quit. Former Brexit Party MEP Ben Habib has hailed the research as proof that Project Fear doubters had been wrong all along.

Facts4EU’s experts examined the European Commission’s European Economic Forecast, published earlier this month.

As a result, they concluded the cost of Brexit this year and next would be €70 billion (£60billion) as a direct result of the loss of the bloc’s second-biggest economy, with the EU’s GDP falling by 15.3 percent on January 31, 2020, the day Britain officially left the bloc.

Separately, figures for 2019 published by Eurostat, the bloc’s official statistics agency, suggest EU GDP including the UK just under €16.5 trillion – but dropped to less than €14 trillion without it.

UK accepts EU’s request to postpone ratification of Brexit deal [UPDATE]
Rejoiners plotting new political party to reverse Brexit by 2026 [INSIGHT]
UK hails ‘Amazonian Brexit boost’ for £6bn Brazil trade deal [LATEST]

Mr Habib told “Remainers in the United Kingdom perpetrated Project Fear during our negotiations with the EU.

“They said the UK could not leave the EU without serious detriment to itself.

“They weakened our negotiating position tremendously.

READ MORE: Rip it up! Boris Johnson urged to scrap Brexit deal to protect Union

“The truth was always the inverse. It is the EU that needs us and our markets.”

Mr Habib added: “This work undertaken by Facts4EU.Org reveals clearly the damage done to the EU’s economy by the UK departing their failing project.

“We should have marshalled this negotiating strength and driven a tougher bargain for ourselves.

“In any event it is good to see yet another leg of project fear dismantled.”

The figures also underlined the wisdom of severing ties with Brussels, Mr Habib said.

He explained: “The EU’s economy is forecast to become as ever smaller part of Global GDP.

“Growth is not in the EU, it is elsewhere.

“And that is where we should trade.”

Former UKIP MEP David Campbell Bannerman added: “The EU has lost its biggest single export market as a member – 15 percent of all its former GDP.

“No wonder it is feeling these effects.

“Instead of trying to make life difficult for the UK for leaving, the EU needs to be far more cooperative and helpful – for its own sake.”

Professor Daniel Hodson, chairman of the recently launched CityUnited project as well as of The City for Britain, said: “They don’t seem to want to recognise the new reality.

“Let’s look forward to the day when they come to realise, dump the politics, and deal with us constructively as a partner.”

Source: Read Full Article