Why ERG Brexiter MPs Demand Financial Analysis of Lockdowns When They Ignore Brexit Analyses

The objective of this article is to explore why ERG (European Research Group) Brexiter Members of Parliament (MPs) demand detailed financial analyses of lockdown measures while showing little interest in similar analyses of the economic impact of Brexit. This discussion will provide insights into the ideological stance of these MPs and examine the availability and nature of existing financial analyses related to both Brexit and lockdowns.

The Availability and Quality of Brexit Analyses

Despite the claim that thousands of financial analyses have been conducted on Brexit, the reality is more nuanced. It's important to highlight that these analyses have varied in their quality, timeframes, and assumptions, leading to a wide range of conclusions. Quick estimates supporting the notion that the economic impact of the Coronavirus and lockdowns is significantly greater than that of Brexit have been extensively shared. The assertion that Brexit would have a larger economic impact, therefore, lacks the credibility of a binding financial analysis.

Where Are the In-Depth Studies on Lockdowns?

Supporters of the lockdowns argue for detailed financial analyses, likely to emphasize the direct and indirect economic effects of these measures. However, it is essential to question why similar in-depth studies on the economic impact of lockdowns are not readily available. The focus on detailed analyses for some policies and not others can be seen as selective and potentially driven by ideological motivations.

Ideological Stance and the Role of ERG MPs

The European Research Group (ERG) is a significant ideological faction within the Conservative Party. It shares a similar view with the Conservative Party's Covid Recovery Group regarding the threat posed by the European Union (EU) and government lockdowns. ERG views the EU as a meddlesome and threatening bureaucracy, much like how they perceive government lockdowns as a restriction on daily freedoms.

The insistence on financial analyses of Brexit, while ignoring similar analyses, supports ERG's ideological stance. On the other hand, the demand for financial analyses of lockdowns also aligns with this group's ideology, reflecting their focus on the threat of government intervention. This selective focus on financial analyses can be seen as a tool to support their broader ideological goals.

Government Economic Analyses: Brexit vs Lockdowns

The UK Government has already published a comprehensive economic analysis of Brexit, emphasizing that while there will be an economic hit, the UK economy is expected to continue growing in all scenarios, whether through a deal or no deal. This analysis underscores that Brexit, despite its potential downsides, is not the primary economic threat at the moment.

Conversely, the impacts of the pandemic and subsequent lockdowns have led to a severe economic recession and a surge in public debt. The current economic threat posed by the pandemic is arguably greater than that of Brexit. The UK economy is grappling with the immediate and pressing challenges presented by the ongoing health crisis, which have a direct and tangible impact on daily life and the economy.

It is crucial for policymakers and the general public to evaluate both Brexit and lockdowns based on empirical data and robust financial analyses. The ERG's selective approach to financial analyses highlights the need for a more balanced and objective evaluation of economic policies.

As we navigate through the complex landscape of post-Brexit and post-lockdown economic challenges, it is imperative to rely on comprehensive and transparent financial analyses to make informed decisions. This ensures that all policies are evaluated fairly, enabling a more resilient and sustainable economic future for the United Kingdom.

Keywords: financial analysis, Brexit, lockdowns, ERG MPs, economic impact