Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

David Davis: Brexit has not produced  ‘major’ economic benefits

David Davis: Brexit has not produced ‘major’ economic benefits

The former Brexit Secretary blames Covid for failure of leaving the EU to deliver economic benefits to the UK
David Davis has has admitted that Brexit has not delivered any ‘major’ economic benefits six years on from the vote to leave the EU.

The former Brexit secretary, who championed the case of leaving the EU to boost the economy, blamed the impact of Covid for the lack of postive results.

He admitted: “We haven’t seen any economic benefit for having left the EU ... No major ones.”

The Tory backbencher instead claimed here had been “minor ones” such as the UK beginning delivery of Covid vaccines in 2020 before the rest of Europe.

Mr Davis contined: “There’ll be more of that. You will see our medical based industries and our software based industries grow significantly.”

Speaking to Times Radio, he added: “Just easing our way out of a Covid crisis, you can’t make any sensible economic measures at the moment.”

Mr Davis said he agreed with prime minister Rishi Sunak in insisting the head of the CBI, Tony Danker, is “wrong” to believe looser immigration rules would help rescue the economy.

The prime minister previously asked about the possibility of a Swiss style relationship with the UK with closer economic ties to the UK: “Let me be unequivocal about this. Under my leadership, the UK will not pursue any relationship with Europe that relies on alignment with EU laws.”

The CBI has pointed to a lack of workers as a key reason for its warning that last week’s autumn statement had no plan for growth.

Speaking at the Confederation of British Industry (CBI) annual conference in Birmingham, Mr Sunak said on Monday he wished to be “unequivocal” that the UK “will not pursue any relationship with Europe that relies on alignment with EU laws” under his stewardship.

“I voted for Brexit, I believe in Brexit and I know that Brexit can deliver, and is already delivering, enormous benefits and opportunities for the country – migration being an immediate one where we have proper control of our borders and are able to have a conversation with the country about the type of migration that we want and need,” he said.

“We weren’t able to do that inside the European Union, at least now we are in control of it.

“When it comes to trade, it means that we can open up our country to the world’s fastest-growing markets.

“I’ve just got back from the G20 in Indonesia, we’re talking about signing CPTPP, where we’ve got some of the most exciting, fastest-growing economies in the world and we can become a part of that trading bloc, that’s a fantastic opportunity for the UK.”

He said the UK could also have “regulatory regimes that are fit for the future that ensure that this country can be leaders in those industries that are going to create the jobs and the growth of the future”.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Hungary Ranked Among the World’s Safest Travel Destinations for 2025
G7 Leaders Fail to Reach Consensus on Key Global Issues
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Man Convicted of Fraud After Booking Over 120 Free Flights Posing as Flight Attendant
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Beata Thunberg Rebrands as Beata Ernman Amidst Sister's Activism Controversy
Hungarian Parliament Approves Citizenship Suspension Law
Prime Minister Orbán Criticizes EU's Ukraine Accession Plans
Hungarian Delicacies Introduced to Japanese Market
Hungary's Industrial Output Rises Amid Battery Sector Slump
President Sulyok Celebrates 15 Years of Hungarian Unity Efforts
Hungary's Szeleczki Shines at World Judo Championships
Visegrád Construction Trends Diverge as Hungary Lags
Hungary Hosts National Quantum Technology Workshop
Hungarian Animation Featured at Annecy Festival
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
UK and EU Reach New Economic Agreement
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
UK and EU Reach Agreement on Gibraltar's Schengen Integration
Israeli Finance Minister Imposes Banking Penalties on Palestinians
U.S. Inflation Rises to 2.4% in May Amid Trade Tensions
Trump's Policies Prompt Decline in Chinese Student Enrollment in U.S.
Global Oceans Near Record Temperatures as CO₂ Levels Climb
Trump Announces U.S.-China Trade Deal Covering Rare Earths
Smuggled U.S. Fuel Funds Mexican Cartels Amid Crackdown
Austrian School Shooting Leaves Nine Dead in Graz
Bezos's Lavish Venice Wedding Sparks Local Protests
Europe Prepares for Historic Lunar Rover Landing
Italian Parents Seek Therapy Amid Lengthy School Holidays
British Fishing Vessel Seized by France Fined €30,000
Dutch Government Collapses Amid Migration Policy Dispute
UK Commits to 3.5% GDP Defence Spending Under NATO Pressure
Germany Moves to Expedite Migrant Deportations
US Urges UK to Raise Defence Spending to 5% of GDP
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Low Turnout Jeopardizes Italy's Citizenship Reform Referendum
Transatlantic Interest Rate Divergence Widens as Trump Pressures Powell
EU Lawmaker Calls for Broader Exemptions in Supply Chain Legislation
France's Defense Spending Plans Threatened by High National Debt
European Small-Cap Stocks Outperform U.S. Rivals Amid Growth Revival
Switzerland Proposes $26 Billion Capital Increase for UBS
×