Former BoE governor suggests Brexiteers have ‘basic misunderstanding of what drives economies 18/09/2023
In a scathing attack on Liz Truss and her economic vision, former Bank of England governor Mark Carney accused the former PM of turning Britain into “Argentina on the Channel”. / Carney also suggested that Brexiteers, whom the former Conservative leader claimed to champion during her short tenure as PM, had a “basic misunderstanding of what drives economies”.
The US economist and former Monetary Policy Committee member on how Britain became so poor and where Labour is going wrong.
World-renowned economist Adam Posen reveals some tough truths about Britain’s situation.
UK’s exit from EU helped fuel inflation crisis, says top US economist Larry Summers.
It's a pretty damning verdict from the former secretary of the Treasury, director of the National Economic Council and president of Harvard University.
If Gordon Brown had reached a different judgment on his famous “five tests”, what might have been the economic consequences?
Non-Tariff Barriers (NTBs) are the main policy impediment to international trade, yet little is known about their pass-through to prices. This paper exploits the Brexit trade policy shock to quantify how NTBs affect consumer prices and welfare.
Critics say my estimate – that the British economy is around 5 per cent smaller due to Brexit – is implausibly large. This insight tests their scepticism against other ways to estimate the cost of Brexit.
Brexit is driving inflation higher in the UK than its European peers after identical supply shocks 24/05/2022
I have started reading the Brexit literature again. A recent paper – ‘What impact is Brexit having on the UK economy?’ by Graham Gudgin, Julian Jessop and Harry Western (GJW) from October 2022 argues there is no hard evidence of harm and that studies that claim to find harm are biased and/or incompetent! In this blog, I consider a few of their points in four areas.
Brexit’s Long-Run Effects on the U.K. Economy - John van Reenen, Massachusetts Institute of Technology [pdf]
What will be the long-run economic effects of the United Kingdom’s decision to leave the European Union—informally known as Brexit? Compared with remaining in the European Union, there will inevitably be higher trade costs with the rest of Europe, which accounts for about half of all U.K. trade.
Sunak talks about ‘fairy tale’ economics – let’s not forget he backed Brexit, the biggest ‘fairy tale’ of all 26/10/2022
The new Prime Minister was decisively on the side of those who claimed that the country would have a better future outside the EU.
Is the Brexit ideology running out of road? 16/10/2022
Many Conservative party members will be wondering where they go from here. / There is talk of damage limitation and trying to save as many seats as possible in the next election.
"The really big self-harm inflicted by the UK on itself was Brexit," which has made the current crisis much worse. - economist Peter Doyle 28/09/2022
Former Bank of England and IMF economist Peter Doyle on SkyNews: "The really big self-harm inflicted by the UK on itself was Brexit," which has made the current crisis much worse. For example: / - Trade frictions when we need to boost exports / - A weaker pound worsening inflation
Recalling Newsnight's coverage, Maitlis said: "It might take our producers five minutes to find 60 economists who feared Brexit and five hours to find a sole voice who espoused it. But by the time we went on air we simply had one of each; we presented this unequal effort to our audience as balance. It wasn't."
The Growth Effects of EU Membership for the UK: Review of the evidence - CAGE Research Centre 07/04/2016
This paper reviews the literature on the implications of EU membership for the UK. It concludes that membership has raised UK income levels appreciably and by much more than 1970s’ proponents of EU entry predicted. ... The economic benefits of EU membership for the UK have far exceeded the costs of budgetary transfers and regulation.
5.2% GDP shortfall ‘mostly’ down to Britain’s exit from EU, according to top think tank.
Now that many advanced economies have recovered and are close to – or above – their pre-pandemic level of output, we can compare Britain’s economic performance to its peers. The results are troubling.
Adam Posen shows how Brexit has curtailed UK trade, FDI inflows, & immigration growth in a series of charts 27/04/2022
@AdamPosen shows how Brexit has curtailed UK trade, FDI inflows, & immigration growth in a series of charts presented at @UKandEU's The Economics of Brexit conference 2022. #PIIECharts
Trade friction has ‘clear and robust’ impact on supermarket prices, say economists.
The Public Accounts Committee warned of "trade-offs" across "agriculture, the environment and human rights”.
Scathing report by Public Accounts Committee criticises government’s approach.
Kira Gartzou-Katsouyanni, Max Kiefel, and José Javier Olivas Osuna write that the Leave vote can be attributed partly to political discontent associated with trajectories of relative economic decline and deindustrialization.
Manufacturing after Brexit - UKICE 26/01/2022
Just over a year since the UK left the single market and customs union, and despite the impact of the pandemic, which makes this kind of analysis all the trickier, we can begin to analyse the impact that Brexit has had on the UK economy. These impacts will vary significantly by sector and also by region. In this report, the authors investigate what they might be in the area of manufacturing.