The British government did not assess the sectoral consequences of Brexit – Minister Davis

The UK government did not conduct an impact assessment of the country’s exit from the European Union (Brexit) for certain sectors of the economy, Brexit’s Minister for Affairs David Davis said, speaking in the House of Commons of the British Parliament.

According to him, the effectiveness of such an analysis will be close to zero, since the exact conditions of Brexit are still unknown, and the scale of the forthcoming changes is difficult to assess at the moment.

“The withdrawal from the EU will lead to a paradigm shift” of the same order as the shifts in the British economy after the global financial crisis of 2008, so economic modeling is unlikely to be informative, Davis says.

At the same time, the Liberal Democrats already accuse D. Davis of misleading the parliamentarians from the very beginning, writes The Guardian. “It is impossible to believe that there are no vaunted estimates of the impact on the economy, that is, the government does not represent that his plans for Brexit will be done with the country,” said Vera Hobhouse, a member of the Brexit parliamentary committee.

Parliament for many months requires the government to analyze the consequences of Brexit for the country’s economy. Earlier, Davis claimed that “the most thorough work on all the details” of possible economic consequences is being conducted. On Wednesday, he tried to justify himself by saying that he never said the words “impact assessment,” namely, the parliament wants to see it.

London and the EU should agree on Brexit’s basic conditions, including the issue of borders (especially in Ireland), Britain’s financial payments to European partners and the rights of EU citizens in Britain after Brexit, until the EU summit on December 14-15. However, as AP notes, this week progress has stalled, there have been signals that draft documents will not be ready on time, and fears of the collapse of the British government have increased.