Andy Burnham's 'big gamble' to put London back at heart of Europe after Brexit blunder
‘If you rejoin the European Union, there'll be an economic boom,’ says Charles Grant, director of the Centre for European Reform.
Charles Grant, Director of the Centre for European Reform, stressed that to signicantly undo the harm to the capital of quitting the EU the new Prime Minister would have to take Britain back into the Single Market or fully back into the European bloc.
“It would be a big gamble, but he seems to be someone who is willing to take risks. So I think there's a chance,” he told The Standard.
Mr Grant told how the benefits for London, and the wider UK, of going back into the Single Market, or similar ties with the EU, would likely include:
“ An “economic boom” boosting tax revenues for the Treasury as the economy grows quickly and this in turn could lead to tax cuts for millions of people and businessesMr Grant explained how Britain’s GDP had taken a hit of between 5% and 8% from Brexit.
“That means everybody is paying more tax. There's less money for public spending,” he said.
“If you rejoin the European Union, there'll be an economic boom.”