Jacob Rees-Mogg today said the Government must honour the EU referendum promise to pump another £350million into the NHS a week.
The leading Brexiteer said he did not want the figure used in the campaign and plastered on the side of the bus which toured the country.
But he said ‘electors believe a promise was made’ and that ‘politicians cannot hide behind the small print like some disreputable businesses do’.
He made the call as he set out his own ‘Brexit Budget’ in which he urged the Government to cut taxes and maintain free trade to boost the economy.
He said Britain can look forward to a £135 billion Brexit windfall if it seizes the opportunities of quitting the EU to trade globally and slash red tape.
Tory MP Jacob Rees-Mogg will today speak at the launch of a report outlining the massive financial opportunities which could lie ahead hanks to Brexit
Mr Rees-Mogg said he believes ‘Britain’s greatest days lie before it and not behind it’ and the economy will get a boost when it is freed from the red tape ofBrussels.
He will make the comments in London at the launch of a new report by the Economists for Free Trade (EFT) group.
They say Brexit will be ‘overwhelmingly positive’ for the British economy as long as the Government adopts the right policies.
The group is calling for the Government to tear down trade barriers with the rest of the world and to slash the burden of regulation and taxation on firms and individuals.
The report says a ‘dynamic stimulus from classic free trade’ and restraint in public spending could provide ‘post-Brexit fiscal freedom’ worth £135 billion between 2020 and 2025.
While Britain could get a further £40 billion a year from 2025 – including £10 billion a year saved by no longer having to pay into EU budgets.
Mr Rees-Mogg, a leading Brexiteer and MP for North East Somerset, will tear into the gloomy official forecasts saying they are based on ‘false assumptions’ of the Treasury.
He will say: ‘This is a free trade approach that focuses on consumers, not producers; one that will generate gains to consumers seven times the cost to producers.
‘This is a classical view of the world that has economic history and the latest economic modelling on its side.
‘This is a free trade approach to Government which believes Britain’s greatest days lie before it and not behind it.’
Philip Hammond, pictured outside No10 yesterday, is preparing to unveil his Budget next week. Many Tory MPs, including Jacob Rees-Mogg, want him to keep a public spending reined in, but other in the party are urging him to loosen the purse strings and go on a spending spree in a bid to woo back voters who have deserted the party
He will say the report’s recommendations would help to reinvigorate competition in the British economy, leading to a stronger performance than the Office for Budget Responsibility predicts.
He will say: ‘It (the OBR) does its work worthily and reputably, but on the basis of false assumptions given to it by the Treasury.’
Mr Rees-Mogg’s positive vision for the future of Britain’s economy after Brexit comes just a week before Philip Hammond unveils his Budget next week.
The Chancellor is being urged to set out bold policies to boost investment, but the party is split over whether or not to loosen the public spending purse strings.
While Mr Rees-Mogg is cautioning restraint, many others in the party are hoping Mr Hammond will go on a spending spree on November 22.
Tory MP Nick Boles last week urged the Chancellor to end the ‘age of austerity’ and unleash a new ‘age of investment’ instead.