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TOPIC: Families in poverty will see no Brexit ‘dividend’, report claims

Families in poverty will see no Brexit ‘dividend’, report claims 11 Sep 2018 06:40 #10132

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Poverty and living costs likely to continue rising after the UK leaves the European Union, says thinktank.

by Steven Preece

Families already facing financial difficulties are unlikely to see any financial benefits from the UK’s decision to leave the European Union (EU), unless the Tory Government change direction on social policies like tax and welfare benefits, according to a new report from one of the UK’s leading authorities on poverty and hardship.

Landmark research suggests that poverty and living costs are almost certain to continue rising after the UK leaves the EU, in spite of seperate analysis that suggests continued austerity and financial inequality were among the key factors behind people’s decision to vote Leave in the EU referendum.

Analysis by experts from Cambridge Econometrics, supported by the Joseph Rowntree Foundation (JRF), explored the potential impact of Brexit on the cost of living, wages, and employment.

Possible scenarios included a so-called ‘no-deal’ Brexit, staying in the single market, tariff free trading, and the potential impact on immigration and investment – all of which showed no discernible benefits for the UK economy or its citizens.

The report concluded that in all scenarios the cost of living and real-terms wages will continue to falter after Brexit, with ‘no-deal’ likely to have the biggest negative impact.

Read Full Report Here;
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