Commenting on leaked government Brexit analysis which reveals that the cost to the British economy of cutting migration from the EU would be significantly greater than the benefits brought by a US trade deal, Liberal Democrat leader Vince Cable said:
“The view that restricting immigration is a positive thing, something this Conservative government have only encouraged, has been starkly contradicted by their own analysis.
“This analysis shows a fall in EU migration is far from cost free. The resulting loss of skills and government revenue means any trade deal with the US won’t even begin to bring in the cash lost by a clamp down on migration post-Brexit.
“As the government’s own evidence against their blinkered hard Brexit agenda begins to mount, the British people must be given their say on the final deal with the option to exit from Brexit."
Earlier this week the ONS published figures showing bolster growth in services in 2016. However, around half of this figure was with Europe - and Britain's trade in services with the EU is under threat by the Conservatives' pursuit of a hard Brexit.
Liberal Democrat leader Vince Cable said:
"There's a high risk of a Brexit deal doesn't include most services, which is what we'll end up with under a Canada-style trading relationship with the EU.
"The Conservatives' determination to exclude us from the Single Market, and the EU's position that we can't have our cake and eat it, puts the strong British services industry at risk."