THE SNP’s bid to create a cost of living crisis committee has been voted down by MPs – quashing hopes of a cross-party group which would have explored Brexit’s impact on the economy.

The party had proposed creating a mammoth committee of 45 MPs – chaired by the SNP – to investigate the causes of Britain’s economic woes and whether they were linked to Britain leaving the European Union.

MPs voted 43 to 260 against forming the group, which Labour did not support citing “flaws” in its design and which the UK Government called a “crackpot” idea.

But the SNP have said the refusal of both the Tories and Labour to back their proposal showed both were in “complete denial about the long-term damage their Brexit obsession is inflicting on the cost of living”.

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Speaking after the vote, the SNP’s Europe spokesperson Alyn Smith said: “The Tories and pro-Brexit Labour Party are in complete denial about the long-term damage their Brexit obsession is inflicting on the cost of living.

"Millions of people across Scotland and the UK are paying higher mortgages, bills and food prices as a result of Brexit, which is fueling inflation and costing our economy billions.

"The SNP is the only party offering real change with independence, which is Scotland's only route back to the EU, sustained economic growth and prosperity.

"At the election next year, the SNP will put independence front-and-centre so Scotland can escape Brexit, tackle the cost of living and get rid of unelected Tory governments for good."

During the Commons debate on forming the committee, Scotland Office minister John Lamont called the plan a “complete waste of taxpayers’ money”.

He said: “The SNP’s motion to establish a select committee to look at the cost-of-living crisis is not only unnecessary duplication of other work by this Parliament, but it is a complete waste of taxpayers’ money.

“The total anticipated cost to the House of Commons for this crackpot idea is in the region of £463,000 per annum […] and, in addition, there would be extra costs to adapt Parliament’s committee rooms to accommodate this massive new committee.”

Labour abstained on the vote, as did the Alba Party’s two MPs and the LibDems.

Ian Murray, the shadow Scotland secretary, said the SNP’s plans were flawed.

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He told MPs: “This may seem like a sensible idea, but it’s when looking at the small print that the flaws of this proposal become clear.

“Now I’m left wondering if the real reason that this is being proposed is for the SNP to try and get one of their many disgruntled members of their group an additional salary payment as being committee chair.”

The Edinburgh South MP added: “Their solution to Brexit, which in their words and mine and many others was a bad idea, is to have Scexit, which indeed would be many magnitudes worse than Brexit.

"They want to repeat the same mistakes and do the same thing.”