July 28, 2020 3:18 PM

LSE Brexit-Covid report: Warning of 'needless pain-upon-pain' double impact

Business sectors that have been relatively unscathed by Covid-19 face a major impact from Britain’s looming EU divorce, according to a new report from the LSE.

The report warns Brexit will deliver a twin blow to the economy whether the Government agrees a trade deal with the EU or not.

Commenting, Best for Britain CEO Naomi Smith said:

‘The LSE’s work chimes with the findings of Best for Britain’s recent report into the double-whammy winter looming for UK businesses, particularly in areas such as the Midlands and North West England, where the major business sectors are particularly exposed.

‘We echo the LSE’s concerns that a thin or no-deal Brexit will result in wider economic damage.

‘The needless piling of pain upon pain for struggling businesses will cost jobs and hurt the economy, at a time when our country’s finances desperately need to be shored up. The Government must heed these warnings, and grab the opportunity to draw up much more detailed plans for businesses, sector-by-sector, before time runs out.

‘As the LSE report makes clear, a rushed “one-size-fits-all” solution simply increases the likelihood of the country being levelled down not up, and is not what voters were promised by the Conservatives at the last election.'

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