EU membership £92bn GDP boost backed across UK’s four nations

New independent economic research on how the UK’s renewed EU membership could supercharge the economy and boost GDP by at least £92bn has been backed across the UK’s four nations.

Political leaders and voices in England, Northern Ireland, Scotland and Wales have endorsed fresh econometric findings from Frontier Economics on the significant boon to all four nations on offer from the UK re-entering the continental trading bloc.

The study found that, per year in gross value added (GVA), Northern Ireland could benefit by £158m, Scotland by £583m, Wales by £184m and Yorkshire by £641m. 

Social Democratic & Labour Party leader, and MP for Belfast South and Mid Down, Claire Hanna, backed the research, and said:

“Businesses and consumers across Northern Ireland have known for a long time what this report now shows in black and white. 

“There is no greater economic injection on offer than membership of the EU. Our businesses need it and our people deserve it.”

In Scotland, Lillian Jones, Labour MP for Kilmarnock and Loudoun, also endorsed the conclusions, stating:

“This report highlights the significant opportunities that closer UK-EU cooperation could bring to Scotland and the UK as a whole – and EU membership would deliver most.

“By supporting growth, investment and trade, closer ties with the EU would create more good jobs, strengthen local businesses and open up new opportunities for young people in every part of our country.”

Welsh MP for Ceredigion Preseli, and Plaid Cymru’s Treasury spokesperson, Ben Lake, joined them in championing the study, and said:

“The damage Brexit has inflicted on our communities in Wales has been significant and far-reaching: the Welsh economy is at least £4bn smaller as a result, exports have fallen by £1.1bn, and the consequences of more trading barriers have been felt by farmers, small businesses, and key industries, while households have also been hit hard by higher prices.

“This report highlights the substantial benefits of closer alignment between the UK and the EU, and in reality, the findings only confirm what we already know – the deeper the integration, the greater the economic gains.” 

While in England, Liberal Democrat MP for Harrogate and Knaresborough, Tom Gordon, said:

“Yorkshire has a proud history as an industrial and agricultural powerhouse; yet from our world-class manufacturers in Sheffield and Leeds to our farmers in the Dales, local industries are being strangled by a mountain of red tape, bureaucracy, and border delays as a result of the Conservatives’ botched Brexit deal.

“The Liberal Democrats have long advocated pragmatic, ambitious steps including joining the EU single market and negotiating a UK-EU customs union – and all data, including this report, is now pointing out what a disaster Brexit was, and how we could tear down those barriers and eliminate the costly checks clogging up our supply chains, helping to turbocharge Yorkshire’s economy even further.”

And David Skaith, Labour Mayor of York and North Yorkshire, also advocated for the report’s findings, and said:

“It’s hard to deny the economic disaster that Brexit has been, especially for places like Yorkshire.

“Rebuilding relationships with the EU has been a priority for this government and I know businesses in York and North Yorkshire have welcomed that.

“It’s high time we had a grown up conversation about what we have lost, and what we stand to gain.”