Brexit is already causing serious and lasting harm to our economy. News that the economy contracted in April shows the seriousness of the crisis and the extremely high stakes for jobs, investment and public services. British industry is feeling the strain, with British steel and car manufacturing on the brink. And the threat of a destructive No Deal now hangs over every decision facing businesses small and large across the country. They know that WTO terms are the worst trading terms in the world and that No Deal threatens a new economic crisis. “Now we know the real costs of Brexit, the public must be allowed back into this process. Forcing No Deal – for which there is no mandate – on the country is not a solution. And nor is it a solution to run down the clock with fruitless attempts at renegotiation of Theresa May’s Brexit deal. “The only way to deliver a stable and lasting settlement, and to give businesses and workers the certainty they need, is through a People’s Vote.”
A severe decline in manufacturing caused the UK economy to drop by 0.4 % in April . The recession represents the country 's worst monthly growth performance in recent years , with economists blaming the prolonged uncertainty surrounding Brexit for the results . The manufacturing sector dropped by 3.9 % over the month , its worst decline since 2002 , due to planned shutdowns by car producers , which feared the UK would crash out of the EU without a deal in cash .