May’s Brexit plans ‘slits the wrists of Welsh economy’

The Prime Minister’s speech on Brexit this week will ‘slit the wrists of the Welsh economy’ according to one Assembly member.

On Tuesday PM Theresa May outlined her plans for Brexit after months of uncertainty following the EU referendum in June, when the people of Powys voted to leave.

In her speech, she said Britain would be leaving the single market, be seeking a new trade agreement with EU countries and there will be restrictions on EU migration.

Labour’s Mid and West Wales AM Eluned Morgan believes Mrs May is acting irresponsibly by tearing up the rule book.

She said: “The PM’s pronouncement on Brexit will slit the wrists of the Welsh economy and lead to a decade of instability for the UK.

“Most leading economists have recognised that leaving the single market will lead to a five per cent shrinkage in the economy which will dramatically reduce public expenditure and have dire consequences for our hospitals and schools in Wales.

“There were no assurances for our poorest areas who have benefitted from EU investment in the past and no guarantees to farmers.”

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