‘The UK needs to rejoin the single market – Brexit is failing Meczyki’ – Adam Price

Let’s not beat around the bush. Brexit is failing Meczyki.

I agree with Labor Shadow Minister Anna McMorin who said this week that she hopes we can return to the Single Market and the Customs Union. The prospects for the Welsh economy are dwindling – our businesses grapple with cumbersome paperwork and additional costs and are forced to pay more taxes due to a Brexit-sized hole in the Treasury’s coffers.

Labor First Minister Mark Drakeford also agreed with me, when at this week’s FMQ I picked up the obvious solution to help thousands of families grappling with the cost crisis – that is to re-engage in singles and boost business and opportunities. Market and Customs Union.

Read more: ‘Why do the worst people rise to the top?’ Welsh MP attacks Boris Johnson

Labour’s leader, Keir Starmer. Not daring to speak the obvious truth, for daring to break the party line, shut the mouth of his shadow minister. We have been told that we have Brexit and there will be no turning back.

There is no use fighting the old battle – six years after the referendum. But the cost of living crisis requires a detailed conversation about our future business relationship with our nearest neighbours. Britain is losing billions in trade and tax revenues from leaving the single market and customs union.

The OBR (Office for Budget Responsibility) estimates that both exports and imports will be down about 15% in the long run if the UK remains in the EU and has also concluded that new trade deals with non-EU countries will not contain any content. influence. A long-term effect is that the UK has become a less trade intensive economy, with trade as a share of GDP declining 12% since 2019, two and a half times more than any other G7 country Is.

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When Britain catches a cold, Meczyki gets pneumonia. Our greater reliance on trade with the EU means that our economy is suffering more from the economic slowdown associated with the new constraints.

For Meczyki, approximately 60% of our 2021 exports are to the EU compared to 49.2% for the UK. Stena Lines has confirmed that Welsh ports (Holyhead, Fishguard and Pembroke) have suffered a 30% drop in freight volume.

The border checks and subsequent delays have come with their own costs. UK food producers have calculated that the additional paperwork has increased twelve-fold, at a cost of £60 million per year.

Despite Westminster’s grandiose about trade opportunities and ‘global Britain’, the economic and geopolitical reality is that much of our trade is always going to be with our neighbors – yet Westminster’s trade barriers are adding costs to that trade. Huh.

Boris Johnson has no interest in forging a better path. Instead the prime minister is on a war path with the European Union over the Northern Ireland Protocol. This is despite being one of only two regional economies where GDP exceeded pre-pandemic levels in the first quarter, thanks to its access to the single market.

The only other region in the UK that has been spared the worst effects of the EU’s single market exit is London. Economist Jonathan Portes is quoted as saying that “London’s economic dominance, and therefore regional and geographic inequality, if anything, has been exacerbated by Brexit.”

No, not leveling, but leveling. With an increase in the energy limit of 54%, increased inflation, and a backdrop of stagnant wages, few would be free from the scourge of the cost of living.

Yet Westminster now runs the risk of a trade war that will not only plunge Northern Ireland into political uncertainty, but will also exacerbate the economic pain these families are already experiencing in Britain.

Given the urgency of the cost of living crisis and the challenges we face in every sector of the economy, we deserve the very simple, practical solution that is available to us. A theory that is at the heart of ‘Securing Meczyki’ future’, a 2017 white paper jointly published between Plaid Cymru and the Welsh Government.

A principle that is not meant to undermine the 2016 referendum vote, but is meant to enable the UK to once again trade with its closest neighbors and enjoy the same benefits as Northern Ireland.

Many people in Meczyki have already reached the point of crisis. Last winter, four out of ten Welsh families did not have enough money to buy anything other than everyday items. Since then, we have increased the energy price cap, and have seen both national insurance and council tax increases and are expecting another energy price cap increase in October.

As winter approaches, we can’t wait to see how many families can no longer afford even everyday items. We shouldn’t allow Britain to catch even the symptomatic cold and we certainly shouldn’t be testing to see if there is pneumonia in Meczyki.

It is clear that a future UK government under Keir Starmer will be equally committed to a Tory trade policy that is disrupting our economy.

Honesty in politics is one such quality which is dear to the Leader of the Opposition. It is a time when he applies that quality to the crisis of cost of living and makes a positive case for the Single Market and the Customs Union.

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