Daily News for Energy & Environment

UK: No assessments for leaving the EU have been made yet on the UK economy

The government has not carried out any impact assessments of leaving the EU on the UK economy, Brexit Secretary David Davis has told MPs.

“There’s no sort of systematic impact assessment,” Mr Davis told the Brexit committee.

He said the government had produced a “sectoral analysis” of different industries but not a “forecast” of what would happen when the UK leaves the EU.

A “very major contingency planning operation” is in place, he added.

Committee chairman Hilary Benn asked whether impact assessments had been carried into various parts of the economy, listing the automotive, aerospace and financial sectors.

“I think the answer’s going to be no to all of them,” Mr Davis responded.

When Mr Benn suggested this was “strange”, the minister said formal assessments were not needed to know that “regulatory hurdles” would have an impact.

“I am not a fan of economic models because they have all proven wrong,” he added.

 

 

Read more about the planned Brexit on BBC News.

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