Brexit news: John Redwood calls for fresh ‘bonus budget’ with FIVE benefits of EU exit | UK | News (Reports)


Writing on his personal blog, the MP for Wokingham questioned why the UK was still waiting to see certain impacts from Brexit despite ending the transition period on January 1. Primarily, Sir John called on the Chancellor to illustrate the massive savings the UK will make from not paying into the EU. In 2019, the UK paid an estimated £14.4billion into the EU following the payment of the £4.5billion rebate.

Now free of that huge fee, Sir John called on the Chancellor to create a “Brexit bonus budget”.

He said: “There are many obvious easy wins which the government should have ready after four and half years delay in our exit.

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“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.”

Armed with this new budget, Sir John outlined how more money should be pumped into domestic food production.

He also insisted the Government must set out a plan for how it will manage any residual payments from the EU within the withdrawal agreement.

In order to stimulate growth in some areas of the economy, Sir John also called for VAT to be removed on green products.

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Amid fears over the delay to trade, some companies have ceased trading currently.

In particular, there have been problems with the supply chains heading to Northern Ireland.

In Scotland, some fishermen have hit out at the deal and called for additional support due to the problems experienced with trade to the EU.

Speaking on the Andrew Marr show, Dominic Raab stated the deal would be a huge boost for the fishing industry in the long-term.

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The Foreign Secretary added: “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.”


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