Michael Gove claims businesses do not fear no-deal Brexit as much as a Jeremy Corbyn government
- Credit: Archant
Michael Gove has claimed he is yet to meet a single business that fears a no-deal Brexit more than Jeremy Corbyn in Downing Street.
The chancellor of duchy of Lancaster was answering a question from Clive Efford on a new Institute for Fiscal Studies which pointed out the government's "incompetence" on finances after "ten years of austerity".
The Labour MP asked: "Would anyone other government consider a no-deal Brexit with the finances in that state?"
But a bullish Gove simply replied: "Business take a variety of views on Brexit and indeed a no-deal Brexit.
"But I'm yet to meet a single businessman, woman or organisation that thinks a no-deal Brexit would be worse than Jeremy Corbyn government."
You may also want to watch:
But there are signs that some businesses do consider Jeremy Corbyn less of a concern to their interests than a no-deal Brexit.
Analysts at key banks including Citibank recently told the Telegraph they are more concerned about the UK leaving the EU without agreement.
- 1 Cost of Brexit is already 38 times more than the money set aside for levelling up
- 2 Brexit stripped me of my Britishness
- 3 What IS the liberal response to the migrant crisis?
- 4 What I learned by avoiding England and the Euros
- 5 Boris Johnson enjoys splendid isolation
- 6 Boris Johnson: The sado-populist prime minister
- 7 The Tories have already lost the culture wars
- 8 Has something shifted in sado-populist Britain?
- 9 Priti Patel - the poster girl for our poisonous politics
- 10 It's now clear what sovereignty means
"Is Corbyn as bad as no-deal? Perhaps no longer," said Christian Schulz at Citi.
"A year ago, a Labour government would have been a big economic downside risk," he explained, pointing to the plans for higher taxes and nationalisation. "These risks to the longer-term outlook have not changed, but Labour has become more decisively pro-EU over the past 12 months."
"First, any market unfriendly policies instigated during a Labour government are temporary (until the government is voted out of office), and must be set against the permanent shock caused by a no-deal Brexit," he said.
"Second, we see the magnitude of economic damage caused by a no-deal Brexit as much higher than policies proposed in the last Labour manifesto."
Become a Supporter
The New European is proud of its journalism and we hope you are proud of it too. We believe our voice is important - both in representing the pro-EU perspective and also to help rebalance the right wing extremes of much of the UK national press. If you value what we are doing, you can help us by making a contribution to the cost of our journalism.