Responding to Sajid Javid’s admission that he doesn’t think “anyone really knows” the cost of a no-deal Brexit, Liberal Democrat Shadow Chancellor Ed Davey said:
“Just this summer, Boris Johnson was reassuring the public that no-deal Brexit would be ‘vanishingly inexpensive’. Now Sajid Javid’s admission perfectly exposes the hypocrisy of his Prime Minister.
“Unfortunately, this also means that none of his spending pledges are credible in the slightest. How can he claim he can fund public services when no-deal Brexit will be draining the Exchequer by tens of billions? The only plans Javid can really implement is raising taxes and skyrocketing borrowing to keep the economy afloat.
“The Liberal Democrats will stop this economic chaos by stopping Brexit, and return the country to sustainable growth.”
Notes to editors:
1. In a televised debate in July during the Conservative leadership race, Boris Johnson claimed that the costs of a no-deal Brexit would be “vanishingly inexpensive” if preparations were made.
2. The OBR, the independent watchdog monitoring public finances has placed the cost of a mild no-deal Brexit at £30bn a year.