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UK Economics

Brexit Britain will be £50bn a year better off says former Chambers of Commerce boss

BRITAIN will be billions of pounds better off within a year of leaving the EU, a leading businessman who sacrificed his job for Brexit has said.

John Longworth

GETTY     John Longworth said the “Armageddon” predictions of the Remain campaign had all proved false


John Longworth, the “Brexit martyr” who quit as director general of the British Chambers of Commerce after being suspended for publicly recommending leaving the EU, said the “Armageddon” predictions of the Remain campaign had all proved false.Instead, he said the UK could begin to reap “huge benefits” just one year after quitting the EU.

Mr Longworth claims at least £50billion a year in contributions to Brussels would be saved and cutting EU red tape would reduce costs for business.

He said the windfall will come even before the UK re-enters global markets, and lead long term to even lower inflation, cheaper goods and a lower cost of living.

Mr Longworth, who said he quit as boss of the BCC network of businesses in March to be free to campaign for Brexit, said he had no regrets, stating: “I did the right thing for Britain without a shadow of a doubt.“Thank goodness the people of Britain have the good sense to smell a rat and see what the right thing was to do.

“But let’s make sure now that we get it right and the establishment don’t simply row us back to the world we had before.”

The businessman said the actions of the Prime Minister would determine whether Britain makes a success of leaving the EU.

Theresa May

GETTY     John Longworth has urged Prime Minister Theresa May not to delay in leaving the EU


He urged Theresa May not to delay in doing so. “I always believe actions speak louder than words and I absolutely know some of the multi-nationals will be lobbying hard to try and preserve as much of what we had before as possible,” Mr Longworth said.“That’s actually rational to them, for individual companies, because of stability, but for the country it is the wrong solution.

“It’s very important that the Government and businesses get behind Brexit and start talking it up.

“There’s still people in the ‘Remoaner’ camp actually trying to prove themselves right so they can say ‘I told you so’ at risk of destroying the economy, which is really stupid.”

He added: “The great economic benefits of Brexit are not to be had from negotiating a trade deal with the EU on exit and certainly not in trying to remain a member of the protectionist customs union that is the Single Market, but in crystallising the benefits of leaving, gaining control of our gross contribution, repatriating our net contribution and reducing costs to business through deregulation.“The net contribution is worth around 0.5 per cent of GDP per annum and deregulation would be the equivalent of a 0.7 per cent per annum tax cut on business.

“Coupled with proper control of migration which will add a further economic benefit, this would boost our economy without any free trade arrangement with the EU.”

He said: “The moment we leave the repatriation of the money is immediate, I mean within a year, let’s put it that way.”

Supporters of Mr Longworth claim Downing Street “bullied” the BCC to discipline him over his Eurosceptic stance, which Number 10 denied.

Mr Longworth, who quit his post in March, went on to chair Vote Leave’s business council. He is currently exploring several work opportunities.

http://www.express.co.uk/news/politics/697309/brexit-britain-better-off-former-chambers-of-commerce-boss

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