In 2018/19 the value of HMRC tax receipts for the United Kingdom amounted to approximately 623.4 billion British pounds.
The government’s spending plans for 2020-21. is
Take away £33.9 billion for the NHS – 589.5 billion
Take away £7.1 billion for Education – 582.4
Scotland £1.2 billion – 581.2
Preparing for Brexit £6.3 billion – 584.9
Policing £750 million- 584.15
AI – £250 million- 583.9
Defence- £2.2billion- 581.7
HS2 – £106 billion 375.7
Replace trident £205 billion- 170 .7
Hinkley Point Nuclear Plant £22 billion- 148.7
Replace Farmers Eu Subsites £3 billion- 145.7.
Loss of trade- £ 5 billion 140. 7
Subsidy to Northern Ireland £10.8 billion 129.9
Cost of servicing (paying the interest) the public debt
amounted to around £48 billion 81.9
Loss of GDP 6.3% to 10 % up to £66bn. 15.9
Congestion £307 billion. -291.1
Tax fraud costing £15.4 billion -306.5
Obesity £73 billion -379.5
Under any scenario, the UK’s exit from the European Union will leave the country worse off. Free trade deal or not.
Even the most optimistic aspects of this assessment are bleak.
But it’s not just Brexit.
These numbers are likely to be larger in reality, since many other welfare improving channels associated with EU trade such as immigration, increases in productivity, increases in R&D intensity, vertical production chains, to cite just a few, are not considered in this analysis.
Staunch supporters of Brexit want to deliver a clean break from the EU, regardless of the economic cost which is going to put an immense strain on the Uk’s internal unity.
In the three months leading up to June 2019, the UK shrank by 0.2 per cent, it’s the worst monthly growth rate in this two-year period. The further you move from EU membership, the worse the trade and investment figures get.
All human comments appreciated. All like clicks and abuse chucked in the bin.