Former Chancellor's stunning defence of Brexit - 'British economy has seen no damaging effect'

Former Chancellor's stunning defence of Brexit - 'British economy has seen no damaging effect'

WATCH NOW: Lord Norman Lamont defends Brexit

GB News
Georgia Pearce

By Georgia Pearce

Published: 03/03/2024

- 11:52

Chancellor Jeremy Hunt is set to outline his plan for Britain's economy next week

Former Chancellor Lord Norman Lamont has defended the UK's exit from the European Union and claimed the move has had "no damaging effect" on the British economy.

Joining Camilla Tominey on GB News, Lord Lamont said the country's trade statistics are "back on trend" where they were before, despite negative predictions from Remainers.

This comes as current Chancellor Jeremy Hunt prepares to announce his latest Budget, as the UK's cost of living crisis continues.

Speaking to GB News, Hunt spared any detail of his plans, but told viewers he will deliver a "prudent and responsible plan for long-term growth".

Lord Lamont

Lord Lamont has defended the UK's exit from the European Union

GB News

Asked if the upcoming Budget would be make or break for the Conservatives, he said: "Of course, budgets are very, very important moments.

"This is likely to be the last Budget before the General Election.

"But British people are very smart. They recognise gimmicks. They don't want any tricks."

When asked by host Camilla Tominey what event has been "more damaging for the economy" in regards to Covid or Brexit, Lord Lamont denied Brexit having any damage to Britain.

Jeremy Hunt

Chancellor Jeremy Hunt said the Budget will be a 'prudent and responsible plan'

GB News

Lord Lamont said: "I don't think Brexit's had any damaging effect on the economy - I would tell that to the Europhiles.

"If you just look at our trade statistics and our trade statistics with Europe, they're back on trend where they were before."


Lamont continued: "I don't dispute that some small businesses find a lot of the form filling rather onerous. Large businesses like Nissan said the other day, they had, to their surprise, found actually they were coping perfectly well. I don't think it's had any harmful effect."

When pressed by Camilla on the effects on British businesses, Lamont was asked if he believes business taxes need to come down.

Lamont admitted: "I think perhaps they ought to look at things like the VAT threshold for small businesses, I think that's not that expensive as I remember. I think that's something that maybe they ought to think about.

"It's this all form filling and bureaucracy that small businesses find so difficult."

Camilla Tominey

Lord Lamont urged the Chancellor to 'stick to his own convictions' with the Budget

GB News

When asked to give his advice to Jeremy Hunt ahead of his Budget next week, Lord Lamont urged the current Chancellor to "stick to your own convictions".

Lamont said: "Do what you think is right. That's the most important thing. Of course, you've got to give some indication about the future. He may not be able to do everything people want with taxes now, but indicate what he hopes to do in the future as well.

"I don't think he can produce a rabbit out of the hat. As I say, he's not a conjurer."

Camilla agreed, adding: "Indeed. Nor can he grow magic money trees, which is unfortunate."

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