The Workers Union has urged the government to ‘work harder’ to secure a Brexit deal for Britain.
The news comes as accountancy giants KPMG issued a report that predicts the country’s economic growth will halve if Britain fails to reach an agreement with the EU.
KPMG said that a Britain trading on World Trade Organisations (WTO) rules would grow by 4.4 percent in 2021 – well under the 10.1 percent forecast if the relationship with the EU remained the same.
The report will not have offered much joy to ministers already reeling from the effects of the Coronavirus pandemic on the country’s economy. Neither will it have eased the pressure on UK negotiators trying to secure a deal as the Brexit talks move into their final phase.
The Workers Union Says
This forecast is the latest in a long line of stats that predict rough waters when the transition period ends on January the 1st, 2021. From that point onwards, Britain will be an independent trading nation, with its access to EU markets governed by the nature of the agreement thrashed out over the next few weeks.
With a deal by no means secure, many businesses are bracing themselves for a shockwave that will have profound effects on their balance sheets. And while the government may believe that the EU is indulging in unnecessary brinkmanship, they would not be justified in placing the blame squarely at the feet of the other 27 countries should talks collapse.
The stakes are high, but the consequences of a “no-deal” scenario have been in the public domain for some time. As far back as March, the Office for Budget Responsibility projected that Britain’s GDP would shrink by 5.2 percent over 15 years – even if both parties agree a standard free trade agreement.
It would, therefore, be an act of gross negligence to allow this country to leave the bloc without securing the best deal available.
It will not be easy – but if our negotiating team need any extra incentives, they should consider the jobs in the automotive, food and manufacturing industries that depend on tariff-free trade with the continent. The people who work in these sectors are the backbone of our country’s success. Their labour is the engine which drives our ability to compete on the world stage.
To fail to protect them would be as gross a betrayal as any government has visited upon its people.
It may not guarantee a perfect outcome, but now is the time to abandon the divisive rhetoric and bring home a deal that works for everyone.
The Workers Union – Britain’s hardest working union