Shevaun Haviland, the director general of the British Chambers of Commerce (BCC), has stated that repairing the economic damage of Brexit should be the top priority for Prime Minister Andy Burnham. This comes as Mr Burnham reconsiders Labour’s red lines on EU membership.
Ms Haviland welcomed the Prime Minister's decision to reopen discussions on Brexit, despite potential uncertainty, arguing that the UK's current trading relationship with the EU is detrimental to businesses. She noted that over half of the bosses surveyed by the BCC believe the deal negotiated by Boris Johnson's government and enacted in 2021 is not beneficial to them.
Economists estimate that Brexit has cost the UK economy up to £240bn, with national income per head between 6% and 8% lower than it would have been without leaving the EU. The Office for Budget Responsibility estimates a long-term impact of approximately 4% of gross domestic product.
Prime Minister Burnham stated at Labour’s conference last month that Brexit had done “more harm than good” and pledged to reassess Britain’s relationship with the EU. He has indicated that failing to pursue a better deal with the EU would be a “major dereliction of duty.”
The BCC plans to consult its 50,000 members, who collectively employ over 6 million people, on various options for Britain’s relationship with the EU, including rejoining the bloc.