Triple whammy of economic woe shows Vote Leave broke their promises

A triple whammy of economic woe has today shown that Vote Leave broke their promises on the economy made during the EU referendum campaign.

During the referendum, Boris Johnson promised that a vote to leave would create 300,000 new jobs; David Davis said “growth will be up not down”; Priti Patel said a vote to leave would “add billions of pounds to our economy”; and Andrea Leadsom said that Brexit would “secure our economic future and the prosperity of our country”.

The reality is quite different. Today, the latest GfK survey has found the biggest fall in consumer confidence since 1990, with their confidence index falling to -12 in July.

EEF, the organisation representing British manufacturers, has likewise seen a slump in confidence amongst its members, falling from a score of 6.37 to 5.24 since the referendum.

And the Chief Financial Officer of Ford refused to rule out closing the company’s two manufacturing plants in Dagenham and Bridgend. He said Brexit could cost the company, which employs 14,000 UK workers, $1bn over the next two years.

Commenting, Tom Brake MP, Patron of Vote Leave Watch, said:

“Far from creating new jobs and growing the economy, it is clear that the vote to leave the European Union will hit working people hard.

“With shoppers feeling the pinch, manufacturers losing confidence and great companies like Ford being hit, Vote Leave’s promise of a brighter future after a vote for Brexit appears broken.

“Theresa May’s government is dancing to Vote Leave’s tune and is full of Vote Leave’s leading lights, like Boris Johnson. They need to own up and admit that Brexit will make workers and businesses worse off.” 

/ends

NOTES TO EDITORS: 

Vote Leave ministers said repeatedly during the referendum campaign that a vote to leave the EU would create jobs and boost the economy:
· Priti Patel, February 22nd 2016: “The only way to take back control over our economy to free up our businesses to create more jobs and growth is to Vote Leave.” Link.
 
· Priti Patel, February 24th 2016: Freeing Britain from Europe’s red tape would trigger a new era of supply-side reforms that would add billions of pounds to our economy, create many new jobs and cause exports to increase... By taking back control over the destiny of our country and voting to leave the EU, you can support a positive vision for the future, one that will bring long term economic security.” Link.
 
· Priti Patel, April 4th 2016: “If we are to ensure that it is British workers who benefit first from our thriving economy, it's crucial that we take back control of our borders and our law making capacity by Voting Leave on the 23rd June.” Link.
· Priti Patel, April 28th 2016: “Just think that by getting rid of some of the EU rules that make it so difficult to create employment, we could deliver a £4.3 billion boost to our economy and 60,000 new jobs... Cutting EU red tape on business – starting with small and medium sized businesses business – will be a valuable boost to productivity, growth and job creation... Outside of the EU, we can set the sensible and flexible employment policies that suit employers and employees and offer secure employment. Link.
· Boris Johnson, May 12th 2016: “After we liberate ourselves from the shackles of Brussels we will be able to create hundreds of thousands of new jobs right across the UK.” Link.
 
· David Davis, May 16th 2016: “We will be faster making deals if we leave the European Union, so growth will be up not down”. Link.
· Boris Johnson, May 31st 2016: “We believe working people will be better off if we leave the EU. The NHS will be stronger, class sizes smaller and taxes lower. We’ll have more money to spend on our priorities, wages will be higher and fuel bills will be lower.” Link.
 
· Andrea Leadsom, June 8th 2016: “The referendum provides a once in the lifetime opportunity to regain our ability to strike trade deals, control our borders and deliver the jobs and growth we need. Manufacturing is going from strength to strength but if we want to secure our economic future and the prosperity of our country, we need to take back control and Vote Leave on 23 June”. Link.
 
· Priti Patel, June 14th 2016: “The only way to take back control of our borders is to vote to leave the EU on the 23 June. We can also take back control of the £350 million we send to the EU every single week, and reinvest it in our vital public services. This is yet another example of how Britain can look forward to a more prosperous, more secure future if we Vote Leave.” Link.
 
· Priti Patel, June 15th 2016: “A vote to leave is a vote to get back control of our economy, our borders, and our democracy - and to look forward to a safer, more secure, and more prosperous future.” Link.
· Boris Johnson, June 22nd 2016: “If we want to take back control and have a more secure and more prosperous future, we have to Vote Leave on 23 June.” Link.