November 10, 2017 4.15 pm This story is over 72 months old

New warning hard Brexit will cost Greater Lincolnshire over £4 billion in five years

Some troubling research.

New fears have been raised that Greater Lincolnshire stands to lose over £4 billion from a no deal Brexit.

The impact of Brexit on Greater Lincolnshire

Research from the London School of Economics and Liberal Democrats has suggested that the impact of a hard Brexit on the county would be £4.17 billion in a five year period.

Lincolnshire was among the most Eurosceptic places in the UK, with Boston recording a Leave vote of 75.6%, meaning that the town had the highest majority of Brexit voters in the country.

The analysis from the LSE shows that Boston would lose £320 million through a no deal Brexit, with a soft Brexit costing £180 million.

North East Lincolnshire, consisting of the port of Grimsby and Cleethorpes, would be the biggest loser from a hard Brexit, standing to lose £820 million.

Lincoln and North Lincolnshire, both of which also voted decisively to Leave, would also be hit hard, losing £600 million.

Below is a breakdown of the impact of a no deal Brexit for each local authority district:

  • North East Lincolnshire: £820 million
  • North Lincolnshire: £600 million
  • Lincoln: £600 million
  • South Kesteven: £530 million
  • East Lindsey: £450 million
  • North Kesteven: £350 million
  • Boston: £320 million
  • West Lindsey: £290 million
  • South Holland: £210 million

Great Grimsby MP Melanie Onn

Great Grimsby MP Melanie Onn has said that a no deal outcome would be bad for the town.

She told Lincolnshire Reporter: “It would see tariffs and border checks imposed on imports and exports, which our local industry says would risk seeing less business for both our seafood processing sector and our ports.

“I want to see an outcome from the Brexit negotiations which will protect the jobs we have here already in Grimsby and help us create more, but a ‘no deal’ outcome would do the opposite of that.

“That the government is considering this is very concerning.”