Umunna – Fall in the value of the pound shows that Leavers have broken their promises on the economy

Responding to news that the pound has hit its lowest level in 31 years, Chuka Umunna MP, Chair of Vote Leave Watch, said:

"Leave campaigners promised that the economy would be unaffected by a vote to leave the EU. They dismissed every economic warning as 'scaremongering' or 'Project Fear'.

"Today we see how hollow their assertions were. This collapse in the value of the pound means ordinary British workers will be worse off, as prices in the shops soar and the pound in everyone's pocket is worth less.

"The Tory conference in Birmingham reveals three cabinet members responsible for Brexit – Davis, Fox and Johnson – blind to the damage Brexit is already doing to Britain. Instead of rushing to pull out of the Single Market, they should focus on limiting the damage to our economy and maintaining as many of the current benefits we enjoy as possible."