Low-income households would bear the brunt of 'Leave' vote

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Plaid Cymru leader Leanne Wood has today warned that low-income households would bear the brunt of the economic aftershock should the UK vote to leave the European Union.

Citing new figures by the National Institute of Economic and Social Research, Leanne Wood warned that Wales and its low-wage economy would be hit disproportionately, particularly if the UK government sticks to the Chancellor's strict fiscal charter to make deep cuts to public spending.

Party of Wales leader Leanne Wood said:

"If the UK votes to leave the European Union, the evidence points to low-income households bearing the brunt of a 'Leave' vote.

"What this new research shows is that a vote to Leave the EU would impact government tax receipts, forcing changes to tax and spending policies.

"If the Chancellor wishes to press ahead with his strict fiscal charter this will mean that low-income households could see as much as £5,542 each year cut from their tax credits and social protection payments in 2020.

"Wales is already blighted by a low-wage economy, meaning that the economic aftershock of Brexit would be likely to hit Welsh households disproportionately hard.

"There is no doubt that Welsh workers would be worse off if we leave the EU.

"The EU offers many important protections for the Welsh economy and workers' rights. A vote to Remain on 23 June makes the most economic sense for Wales."

Notes

- The EU Referendum and Fiscal Impact on Low Income Households 

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