The OBR forecast that Brexit would cost the UK economy 4% of GDP now looks ridiculously optimistic as the damage mounts.

However, disenchantment with Brexit has been one of the most notable trends of 2022 with a feeling that it has not lived up to the promises made at the time of the referendum. / Two thirds or 65% of British people think Brexit has gone badly compared to just 21% who think it has gone well according to an Opinium survey in early December.

Now the Conservative Party’s reputation for economic competence has cratered, Matthew Gwyther sees businesses getting increasingly politicised.

In the US they call it ‘starving the beast’ – cut taxes and, as revenue decreases, you create irresistible pressure for austerity.