UK seeing ‘biggest squeeze on living standards’ on record, says head of fiscal watchdog.
Jeremy Hunt’s budget shows that leaving the EU is only paying off in a parallel universe.
Brexit “slammed the brake on UK investment”, SNP economy spokesperson Stewart Hosie has said. / Responding to Chancellor Jeremy Hunt's Spring Budget, Mr Hosie argued the UK economy was “one of the weakest” in the G7.
"As an investor we want a country to be stable," the European president of BYD declared.
Manufacturers say fears over red tape and political chaos are creating more uncertainty.
Companies in Great Britain that want access to the EU single market should invest in Northern Ireland, senior Tory MP Andrea Leadsom has said. / Northern Ireland firms will continue to be part of the single market under Rishi Sunak's Brexit deal with the EU.
The 2016 referendum result led to business investment being ‘stopped in its tracks’ and a ‘productivity penalty’ of £29bn, says Professor Jonathan Haskel.
As self-inflicted disasters go, it ranks as one of the worst in modern economic history."
Citing Brexit, “it may not be viable to invest in UK manufacture for export”, says Cycloc
13/02/2023
Having made national press headlines in January in relation to its stance on Brexit and the associated costs to its business, Cycloc has today expanded upon the complaint, adding that it is becoming less viable to invest in its UK production given the new and enhanced hurdles it faces exporting its goods.
Slump in business investment since vote to leave EU has cost each household £1,000 in lost productivity
The economic damage done by Brexit is happening sooner than feared, the Bank of England warned. / The central bank said the UK economy is being hindered by a sharper slump in trade with the European Union than implied by official statistics and “very subdued” business investment.
Brexit is costing the UK economy £100 billion a year ($124 billion), with the effects spanning everything from business investment to the ability of companies to hire workers.
Brexit is thought to be a key reason why Britishvolt couldn't attract the private investors it needed.
Political chaos since Brexit is to blame, say manufacturers.
When Boris Johnson agreed the Brexit divorce package with the EU, he promised it would unleash innovation, turning Britain into an agile “science superpower”. But rather than boost UK science and technology, Brexit has – so far – damaged it,
The evidence increasingly shows that our decision to leave the European Union has lifted the price of imported goods, flattened business investment and damaged trade.
Brexit: The scorecard two years on
02/01/2023
So how is it going? In economic terms, the past year has helped differentiate the impact of Covid from the impact of Brexit. / Doing so has exposed a hefty price being paid by many firms, as well as public service employment, for dislocation of Britain from its nearest neighbour's trading bloc.
Brexit regret: Why the ‘undeniable disaster’ finally hit home with the British public in 2022
01/01/2023
Public opinion shifted against Brexit after a deluge of damning evidence on economic costs.
Brexit delays have led Perth-based cannabis oil company Voyager to acquire a manufacturing factory in Poland for £1.5 million.
In reality, Brexit has hobbled the UK economy, which remains the only member of the G7 — the group of advanced economies that also includes Canada, France, Germany, Italy, Japan and the United States — with an economy smaller than it was before the pandemic.
Center for European Reform says departing the EU single market reduced investment by 11 per cent and goods trade by seven per cent in the second quarter of 2022.
‘Worse than feared’ – Brexit costs UK £33bn
21/12/2022
Brexit has cost the UK a staggering £33bn in lost trade and investment, according to a new study that found the economic damage is even worse than previously feared.
Brexit has left the UK economy 5.5% smaller than it would have been and added to the squeeze on public services that’s behind strikes crippling the railways and National Health Service, a prominent research group concluded.
Economy 5.5 per cent smaller than if Leave referendum hadn’t happened, says think tank.