How much has Brexit cost the UK economy? 21/06/2023
How much has Brexit cost the UK economy? The best publicised estimate is that produced by John Springford of the Centre for European Reform, who concludes that UK GDP is currently about 5% lower than it would have been had we not voted to leave.
The impact of Brexit on people’s earnings could be ‘substantial’, say experts. / Millions of workers in Britain will be about £1,300 worse off a year due to Brexit, leading experts have said.
The OBR forecast that Brexit would cost the UK economy 4% of GDP now looks ridiculously optimistic as the damage mounts.
Economy 5.5 per cent smaller than if Leave referendum hadn’t happened, says think tank.
EU officials have derided the British Government’s ‘chaotic’ approach to negotiations and said the much-reviled ‘Swiss mess’ is ‘not on the table’.
"Around half of the fiscal hole, and the political instability that comes with that, is down to Brexit," John Springford of the Centre for European Reform.
Real pay set to be £470 lower per worker each year, say top economists. / “We can’t blame Brexit for all of the 5.2 per cent GDP shortfall … but it’s apparent that Brexit is largely to blame,” said John Springford, author of the CEF study.
Figures on the cost of Brexit reported by ITV last week could have given a misleading impression of the cost of leaving the EU.
A study by the Centre for European Reform reveals the “troubling” cost of Brexit and says the losses are now too big to ignore.