Brexit: despatches from the downside – No 24
01/03/2024
In this week's Brexit downsides, extra food labelling costing up to £250mn, a huge drop in overseas students, veterinary shortages in NI, and more.
Brexit Britain has 'significantly underperformed' compared to EU and US since 2016 referendum
14/02/2024
The UK has "significantly underperformed" compared to the European Union and the US since the referendum in 2016, new Goldman Sachs analysis shows.
The UK's economy is 5% smaller than it would have been if it had chosen to stay in the European Union, according to an analysis by Goldman Sachs.
Decision to leave shrank the British economy by reducing growth and spurring higher inflation, economists say.
Britons are counting the cost of Brexit as the combination of the referendum, pandemic and energy crisis takes its toll.
Businesses that make sporting goods, children’s toys, jewellery and medical goods have struggled the most with the border costs imposed by the UK’s decision to leave the EU.
Read it and weep. With no 'sunlit uplands' in sight, further research into the impact of Brexit confirms some of our worst fears.
The Prime Minister is facing a strong backlash from business leaders after claiming that “post-Brexit freedoms have enabled the government to cut red tape saving British businesses £1 billion per year."
MAC has warned replacing freedom of movement with a points-based immigration system after Brexit could cut economic growth.
‘Brexit is materially restricting our growth now,’ manufacturer Farrat says. / Manchester — Sick of customs delays and extra bureaucracy since Britain left the EU, Farrat, a small manufacturer on the edge of Manchester, is ramping up investment to compensate — in Germany.
Brexit to blame for soaring inflation, former Bank of England boss says: ‘We told you so’
18/06/2023
Mark Carney says there is ‘no joy’ in laying this out as ‘people are having to live with that reality’.
UN figures show value of British goods and services exports rose by 6% between 2012 and 2021, compared with 29.1% for EU.
Labour big beast Neil Kinnock has warned Keir Starmer he might struggle to meet a key election pledge without rejoining the EU’s Single Market.
It has been almost two and a half years since the United Kingdom signed its post-Brexit trade deal with the European Union (EU), which was expected to have multifaceted impacts on the UK economy.
‘A terrible, self-inflicted own goal’: Kevin Maguire pins Britain’s economic woes to Brexit
12/04/2023
The Mirror man called the UK's split with the EU "a disaster, a nightmare," adding that "long term it'll take 4% off the economy."
The UK economy will perform worse than any major economy this year, even worse than sanctions-hit Russia.
Paul Johnson, director of the Institute for Fiscal Studies (IFS), has told PoliticsHome Brexit and last year’s political turmoil may be among factors that have contributed to the IMF's gloomy economic forecasts for the UK.
Leaving the European Union had an impact on the UK economy equivalent to the coronavirus pandemic and likely reduced output by 4%, the chairman of the Office for Budget Responsibility told the BBC.
The former chancellor said the Conservatives, Labour and national broadcasters "won’t talk about it", but the split with the EU is to blame.
A project manager’s disdain at chancellor Jeremy Hunt’s speech to Bloomberg's city HQ – ‘the UK will soon probably need to start offering its own nomad visa just to get people to come here,’ probably resonated with many IT contractors.
Northern Ireland's construction outlook good - but Brexit 'complicates trade and hampers growth'
02/02/2023
The fall-out from Brexit continues to "complicate trade and hamper growth" in the north's construction sector, according to the latest industry barometer from Aecom.
The UK is on course to be the world's worst-performing major economy this year, according to updated predictions from the International Monetary Fund - which puts at least part of the blame on higher taxes and interest rates.
Three years after the UK formally exited the European Union, the International Monetary Fund (IMF) has released new economic forecasts for 2023 which project that the UK will be the only advanced economy to contract this year.