Alliance Party Deputy Leader, Stephen Farry MLA, has responded to the publication of economic analysis from HM Treasury indicating a slowdown in economic growth in all Brexit scenarios.
Stephen Farry said: “There is no such thing as a good or sensible Brexit. Any form of Brexit entails a weakening of the current level of economic interaction the UK has with its closest neighbours through the European Union. That cannot be replaced by other trade deals or arrangements.
“Brexit will see the UK slipping behind in terms in its rate of growth, and people will therefore miss out on economic opportunities and prosperity, and the capacity to reinvest resources in improving public services.
“Northern Ireland is one of the more vulnerable UK regions, and would be particularly devastated by a no deal situation given supply chains and sales operating on both a north-south and east-west basis. And it is important to bear in mind that Northern Ireland is already behind the UK average on a range of economic indicators.
“An independent trade policy is a delusion. There is not a choice to be made between maximising trade with the EU versus the rest of the world. We can maximise trade through the rest of world, and negotiate new trade opportunities from a position of strength.
“Alliance priorities its approach to Brexit to minimise the damage. Our first preference is a People’s Vote to reconsider Brexit, followed by the whole UK staying in the Single Market and a Customs Union, and then a special deal for Northern Ireland.”