Brexiteer Sir John Redwood is asking why the UK is yet to see the impact of Brexit as he highlights five benefits that were supposed to be there immediately Britain leave the EU as it did on New Year’s Eve.
The MP for Wokinghamin sent a plea to Rishi Sunak and Prime Minister Boris Johnson, urging them to move to action and avoid further delay.
First, Sir John urged Chancellor Rishi Sunak to illustrate the massive savings the UK will make from not paying into the EU, as the UK in 2019 paid an estimated £14.4billion to the EU after the payment of the £4.5billion rebate.
Knowing that all of that amount will be saved going forward, Sir John suggests that the Chancellor create a ‘Brexit bonus budget’ to illustrate the benefit.
“There are many obvious easy wins which the government should have ready after four and half years delay in our exit. Why are we still waiting for them? The Chancellor, in particular, should get on with a Brexit bonus budget.
“He should set out the large savings on our contributions to the EU and how they are being used.”
The MP also suggested how more cash should be thrown into domestic food production for the benefit of all while adding that the government must set out a plan to show how it intends managing any residual payments from the EU within the withdrawal agreement.
Sir John also advised that VAT should be removed on green products in order to stimulate growth in some areas of the economy. On the part of small businesses, Sir John suggested a review into tax levels and grants.
“Mr Sunak needs to promote small business and self-employment as we need them to power the recovery from the deep anti CV 19 recession we have been living through,” Sir Redwood said.
Sir Redwood suggestion comes as most businesses are currently experiencing problems and have been so since the UK left the transition period on January 1 as a result of increased customs checks and health certificates, some businesses have reported delays in exporting products to the continent while some companies have ceased trading for now.
There have been problems with the supply chains heading to Northern Ireland. Then in Scotland, some fishermen have slammed the Brexit deal and called for additional support due to the problems experienced with trade to the EU.
However, Foreign Secretary Dominic Raab has assured that the deal would be a huge boost for the fishing industry in the long-term, he said, “I think this is a great deal for the fishing industry, both short term and long term.
“We get control over our fisheries back – full control as an independent coastal state – there is an immediate 15 per cent uplift in our access to fisheries for the UK sector in the first year.
“That rises to two-thirds in the five-year transition period, then we have annual negotiations. The agreement we have struck, both short term and medium-term and long-term, will create huge sustainable opportunities.”