Global issues are factor but experts say there are problems peculiar to Britain such as rising costs post-Brexit.
The Guardian’s in-house Brexit apologist
06/12/2023
Why does the newspaper continue to publish Larry Elliot’s Corbynite nonsense on the EU?
Brexit red tape led to us suspending EU exports and profit dropped to zero, says business owner
03/08/2023
One small business owner said her net profit margins had dropped to zero in the years since Brexit.
Former PM’s disastrous tax-cutting plan piled an extra £91m on the UK’s payments to the bloc, Treasury documents show.
Sterling's drop at the time of former British Prime Minister Liz Truss's failed budget plans meant the British taxpayer stumped up tens of millions of pounds extra to fund Brexit divorce bill payments to the European Union, paid in euros, new figures show.
“You bring Brexiters on, you never challenge them. You let them talk utter rubbish about Brexit. Year after year after year.”
What's behind the FTSE exodus: Why Britain's public market woes aren't all Brexit's fault - and there's no 'silver bullet' to fix it
03/05/2023
UK capital markets have been described as a ‘backwater’ in the years since the 2016 Brexit referendum, with foreign investors averse to the extra risks and headwinds - and potential lack of reward - on offer in the wake of the country’s departure from the trading bloc.
Economists at ING note that the Pound could thrive in the long term as the Labour party leader aims to rebuild good trade relationships with the bloc.
Although the pound is losing value, exports are lagging. Bureaucratic hurdles also paralyze trade. Brexit is a catastrophe in other respects too.
Zwei Jahre Brexit: Das britische Eigentor
04/01/2023
Obwohl das Pfund an Wert verliert, hinkt der Export. Bürokratische Hürden lähmen den Handel zusätzlich. Auch sonst ist der Brexit eine Katastrophe.
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.
Former Bank of England governor, Mark Carney said that the fall in the pound and shrinking economy after the UK left the European Union, Brexit, had added to “inflationary pressure”.
Brexit has added to the UK's economic woes by lowering the value of the pound and contributing to price rises, an ex-Bank of England governor has said.
Former Bank of England governor Mark Carney has doubled down on his claims Brexit has taken a toll on the pound and sparked higher inflation.
This week, Rishi Sunak talked of building 'an economy that embraces the opportunities of Brexit'. Here's 5 mins on Brexit's impact on the economy so far. [5 mins]
28/10/2022
This week, Rishi Sunak talked of building 'an economy that embraces the opportunities of Brexit'. Here's 5 mins on Brexit's impact on the economy so far.
At the very time when government wants to be less dependent on food imports, it’s becoming impossible for some farmers to survive.
Brexit crippled the UK economy – Liz Truss just made it worse | Economics | New Statesman [5 mins]
22/10/2022
Economist Duncan Weldon and the New Statesman’s polling expert explore how Brexit and austerity have damaged the UK economy and set the stage for Liz Truss’s “mismanagement.”
The economic costs of Brexit were masked by the Covid-19 pandemic and the crisis in Ukraine. Now the effects have become clear.
The government doesn’t want to be held to account for Brexit and its real effects – and it’s clear why!
08/10/2022
This week I was contacted by a retired CEO of a major wine wholesaler. They, unbeknownst to me, had asked their local MP John Penrose (Weston-super-Mare, Somerset) if he thought it was acceptable that my wine business had been obliged to open a site in the EU to mitigate Brexit costs.
Brexiteer MP overheard talking about markets on night of 2016 referendum vote. / Chancellor Kwasi Kwarteng reportedly said “who cares if Sterling crashes” in the immediate aftermath of the Brexit referendum result in 2016.
"I am very fearful for Britain on the path that it is travelling." / Former US Treasury Secretary Larry Summers says Brexit and Liz Truss’s extreme tax cutting is turning the UK into a “submerging market”.
Ex-US Treasury chief fears for UK becoming ‘submerging market’. / “Between Brexit, how far the Bank of England got behind the curve and now these fiscal policies, I think Britain will be remembered for having pursuing the worst macroeconomic policies of any major country in a long time.”
The pound’s slump shows little sign of ending amid the ongoing story of dollar strength as well as concerns about UK economic policy. The latest leg down has taken its decline so far this year to 17%, surpassing the 16% loss it suffered in 2016, when the country voted to leave the European Union.
High inflation, low investment confidence and a weaker currency make the UK an attractive target for European suitors.
THE pound has fallen to its weakest level against the US dollar since 1985 amid fears the UK is heading for a lengthy recession.