Three City institutions have estimated the cost of Brexit to be anything up to £200bn by 2030, prompting the Liberal Democrats to warn that this would be an unprecedented act of economic self-sabotage.
Tim Farron, Leader of the Liberal Democrats, said:
“This shows the damage being wrought by the Conservative Brexit government if it succeeds in forcing us out of the Single Market. The cost will be paid by future generations in the schools and hospitals not built, and by the life chances snuffed out by poverty.
“Opinion polls have shown very clearly that even many Brexit supporters will only accept leaving if it does not cost them money. This report by three independent observers clearly shows Theresa May's hard Brexit will cost every family, every worker, every child in this country and will cause incalculable social division”
“With Labour totally confused over Brexit and the Conservatives determined to take us out of Europe at any cost, only the Liberal Democrats are fighting to keep Britain open, tolerant and united.”