Half a decade after the referendum, the economic hit to the UK caused by Brexit is becoming clearer. But it will be years before the true impact is understood

The Covid threat to GDP is waning, but don’t expect the pain wrought by leaving the EU to subside any time soon.

Across the world, there is incomprehension at what we have done to ourselves.

Brexit is forecast to do more permanent damage to the economy than Covid. But this self-inflicted wound can be healed.

The Office for Budget Responsibility (OBR) predicts that, although the UK economy will almost fully bounce back from the pandemic, it's economy and eventually the jobs market will suffer for decades due to Brexit.

The Chancellor and Prime Minister need a plan to counter figures showing lower growth after the hit to EU trade.

Rees-Mogg’s efforts to reap economic benefits from Brexit has come up woefully short.

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

Many Conservative party members will be wondering where they go from here. / There is talk of damage limitation and trying to save as many seats as possible in the next election.

Less than two weeks after her government plunged the markets into crisis with a disastrous budget, Prime Minister Liz Truss used her closing speech at the Conservative Party conference to blame the meltdown on a nebulous anti-growth coalition.

Brexit denialist-in-chief Jacob Rees-Mogg is still in full flow. He denies that any harm has come from Brexit – even though he can’t find any benefits.

‘One of the biggest blows to our productivity – and a self-inflicted one – was leaving Europe’s single market,’ says Michael Day.

The UK’S membership of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership offers little gain for the British economy.

“Car crash!” exclaimed managing director Andrew Varga, whose Brexit progress I have been following since the referendum. News of the latest Brexit U-turn landed on him on Tuesday out of the blue. All his years of preparation for a new UK product safety mark, all his thousands of pounds wasted, all the uncountable hours and effort were rendered pointless, at a stroke.