Boris Johnson’s government faces deep economic problems. / UK lagging behind major peers on productivity and investment. / “... From a 16% devaluation of the pound to an eye-watering slide in trade and investment, Brexit’s impact is plain to see. The data have only reinforced our view that life outside of the EU would leave the UK worse off.”
New figures released today have revealed just how disastrous Brexit has been for the UK economy as trade data shows exports to the EU fell by almost 14 per cent.
TJ Coles reviews the ways in which leaving the EU has made Britain poorer.
Yes, that headline is correct. The UK’s trade performance this year fell to its worst level since records began in 1955. And the cause, according to analysts and a headline article in the FT today – Brexit.
Official figures corroborate academic studies showing sharp drop in exports since Brexit.
European Commission vice-president says Brussels wants to get ‘Brexit done’ – while London refuses to talk about Northern Ireland.
The disregard for Welsh ports during and since Brexit is part and parcel of Wales’ wider marginalisation within the political economy of the UK 27/06/2022
Sectors from fishing to aviation, farming to science report being bogged down in red tape, struggling to recruit staff and racking up losses for the first time.
Immediately after the referendum, sterling depreciated. This brought forward the impact on household incomes of what would otherwise be a slow burn change for the UK economy.
Belfast Harbour has bounced back to strong trading and profits of £34m.
The economic fallout from leaving the EU is becoming all too apparent.
Post Brexit inflation is making UK "sick man of Europe" | Economics | The New Statesman [22 mins] 18/06/2022
A "perfect storm" of Brexit, covid and poor macroeconomic fiscal policies by the Conservatives has weakened Britain's economy and diminished the UK's standing in Europe, says economist Duncan Weldon.
The European Union sued Britain on Wednesday (local time) over its move to rewrite the trade rules agreed to when the country left the EU two years ago, ratcheting up tensions between the major economic partners.
Speaking on LBC's Tonight with Andrew Marr, the former Chancellor implied that he still felt Brexit was the wrong decision after having stood firmly against it during 2016's referendum.
Business groups warn of potential harm to north-south trade under British bill.
Supply chain issues set to last throughout 2022, warns Logistics UK; trade could also be hit by fresh Brexit issues 14/06/2022
Pressure on supply chains is set to last throughout 2022, according to Logistics UK in a report that comes at the same time as fresh issues related to trade with Europe appear, with the government proposing unilateral action on Brexit.
In recent weeks I have been hearing a lot - both publicly and privately - from EU leaders, and from the chief executives of some of the region's biggest companies. No wonder. They've had a lot on their plate with events in Ukraine, a transformation of their energy supply lines, and the prospect of knock-on effects, including possible recession.
When the most anti-EU newspapers are pointing to the policy’s inevitable failures, it’s time our government admitted the truth.
Representatives of the Northern Ireland food industry have warned the UK government that scrapping the Northern Ireland Protocol could damage their businesses.
Boris Johnson’s Brexit is failing to deliver any benefits for Britain. It bears no resemblance to the promises made by the Leave campaign in 2016.
Brexit has cost the UK economy billions of pounds in lost trade and tax revenues, according to research shared with ITV News by the Centre for European Reform. / It estimates the economy is 5% smaller than it would have been if the UK had stayed in the EU.
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.
Thanks to Brexit, sterling is becoming a risky bet for some investors.
Brexit Chickens Come Home to Roost 07/06/2022
While the picture’s hardly pretty and certainly not what advocates of Brexit envisioned, none of it surprises economists. As a former Bank of England official observed: “You run a trade war against yourself, bad things happen.”
Has anyone got any genuine reasons why imperial is better than metric, I asked. I got more than 2,000 replies.