John McDonnell MP, Labour’s Shadow Chancellor, commenting on the House of Commons Treasury Committee’s report into the Government’s and Bank of England’s Withdrawal Agreement which is widely critical of the government and Treasury, said “Today’s report makes damning reading for the Government.
“The Treasury Select Committee has confirmed the Government’s economic analysis does not model the most likely outcome of the Prime Minister’s botched Brexit deal, does not model the short-term effects on jobs and instead models a deal abandoned months ago.
“The report confirms Parliament’s fears that the backstop is the probable – potentially long-term – outcome and confirmed the Government’s refusal to model its economic impact. Clearly, either the Government does not know what the effect of remaining in the backstop will be or does not want MPs and the public to know.
“This Government’s incompetent and chaotic handling of the most important decision facing this country for a generation is damaging our economy and our democracy. If the Government cannot bring back a deal that protects our economy and is acceptable to Parliament, they should make way for a party that can.”