Britain exited the European Union because it wanted to reclaim its sovereignty. Learning from Norway’s EU experience, Britain must be cognisant of the limits on its autonomy, even as a non-member, write Johanne Døhlie Saltnes, Merethe Dotterud Leiren, Arild Aurvåg Farsund, Jarle Trondal, John Erik Fossum and Christopher Lord.
The impact on trade overall appears to have been broadly consistent with predictions so far, that on immigration much less negative (and perhaps even positive) and on investment somewhat worse. Perhaps the best estimate of the negative impact on Brexit on UK GDP to date is 2–3% of GDP.
Lessons from seven lean years of Brexit
28/04/2023
Almost seven years on from the Brexit referendum, there remains uncertainty over the future UK-EU relationship. Reflecting on the lessons from the last seven years, Neil Kinnock argues there remains a clear case for the UK being an economic, political, social, scientific and cultural part of the Europe of the future.
There's deep disquiet in the food trade over forthcoming sanitary checks. When such checks were previously required, some UK companies were forced to stop exporting.
Steptoe | Brexit One Year On
18/01/2023
However, this article seeks to describe, as far as possible, how Brexit has affected the business and regulatory environment across the full range of areas covered by Steptoe and Johnson practices so far, and to identify issues of potential future concern for companies.
Iain Overton reflects on the Government’s policy of Free Trade Deals with countries regardless of their human rights record.
Trade, migration and Brexit
25/10/2022
Jonathan Portes assesses the extent to which predictions about trade and migration before the Brexit vote have materialised, highlighting that trade has been reduced by additional barriers but the extent to which liberalisation would increase migration flows in the short term was underestimated.
Only the reversal of Brexit can start to fix the state three prime ministers have left the country in.
Liz Truss becoming Prime Minister is the end of what little hope remained that the Northern Ireland Protocol Bill would be scrapped.
You can’t restrict immigration without damaging trade deals. / For years the Brexiteers have been in denial about the contradictions inherent to their project. Now they are coming out in the open.
The pound’s latest collapse is a symptom, but Britain’s decline has been going on for years
30/09/2022
The spectacular collapse of the pound against the US dollar has shattered the illusion that Britain is entitled in perpetuity to special status among the world elite.
The UK and the global economy after Brexit
27/04/2022
Brexit has reduced UK trade openness, foreign direct investment (FDI) inflows, and immigration growth. New border frictions and higher transport costs pose new barriers to trade, and FDI inflows are unlikely to return to levels reached in the 1990s and 2000s.
Immediately after the referendum, sterling depreciated. This brought forward the impact on household incomes of what would otherwise be a slow burn change for the UK economy.
Now that many advanced economies have recovered and are close to – or above – their pre-pandemic level of output, we can compare Britain’s economic performance to its peers. The results are troubling.
Brexit Chickens Come Home to Roost
07/06/2022
While the picture’s hardly pretty and certainly not what advocates of Brexit envisioned, none of it surprises economists. As a former Bank of England official observed: “You run a trade war against yourself, bad things happen.”
Political distance from Brussels has been achieved. This is not up for question. However, economically speaking, there is vast room for improvement. The OBR calculates, in its current form, that Brexit is reducing our GDP by four per cent. This compares to around 1.5 per cent caused by Covid.
Tor Mackenzie, Founder of MAD Yorkshire takes stock of the issues created by Brexit and how the industry can bounce back.
Brexit Opportunities Abound – Part 2
17/02/2022
Continuing the letter to Jacob Rees-Mogg, reminding him – he seems to need reminding – of the many new opportunities created by Brexit.
The cost of Brexit: September 2021
29/11/2021
In September 2021, UK goods trade was 11.2 per cent, or £8.5 billion, lower than it would have been if the UK had stayed in the EU’s single market and customs union.
It would be wrong to focus too much on 2021 when looking at the effects of Brexit on UK trade. We have just published a new paper looking at how it affected UK trade between 2015 and 2018. It shows for the first time that fears about Brexit weakened the UK’s trading position long before the vote to leave the EU even took place.
Figures from the ONS today tell us what happened to trade in July. It’s been a few months since we checked on what’s been happening to trade with the EU and other nations since the UK left the Single Market in January, so let’s see what we’ve learned over the summer.
Brexit isn't done yet - Andrew Opie, BRC
03/09/2021
We could have been forgiven for thinking Brexit was done when the UK left the EU at the very end of 2020. However, for retailers the real challenge of Brexit is likely to be felt in early 2022 when border controls are finally introduced for the UK.
The UK left the EU at the end of 2020, and according to the latest figures from the Office for National Statistics, Brexit has already led to a significant slump in trade between the EU and the UK... / Brexit supporters endorsed the idea of CANZUK – an alliance between the UK, Canada, Australia and New Zealand.