Tuesday, 02 January 2024 12:17 GMT

Burnham's EU Reset Will Make Britain Richer But Easier To Quit


Date:

(MENAFN- Investor Ideas) newswire) a trusted platform for investing ideas including AI and stocks issues market commentary from deVere Group.

Andy Burnham's push to cosy up to Europe could hand Britain a growth windfall and its wealthiest residents an escape hatch in the same stroke, warns the CEO of deVere Group

The comments from Nigel Green come as the prime minister calls on MPs to back closer ties with the EU, after revealing he's been told Russia did meddle in the 2016 Brexit vote.

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Burnham says Brexit has done more harm than good and refuses to rule out rejoining after the next election.

Recent analysis puts the long term cost of the current deal at around 2.5% of GDP. Closer ties could claw back up to 1.2 percentage points of it.

A government minister says Russia is pouring GBP 1.5bn into disinformation and propaganda this year alone.

But the door swings both ways.

An estimated $160bn of private wealth has left Britain in two years. The top 1% of earners pay around 27% of all income tax. And Britain was forecast to lose 16,500 millionaires last year, more than any other country.

The Conservatives have already vowed to unpick Labour's moves towards Europe, including a planned food and farm trade deal.

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