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"The really big self-harm inflicted by the UK on itself was Brexit," which has made the current crisis much worse. - economist Peter Doyle
28/09/2022
Former Bank of England and IMF economist Peter Doyle on SkyNews: "The really big self-harm inflicted by the UK on itself was Brexit," which has made the current crisis much worse. For example: / - Trade frictions when we need to boost exports / - A weaker pound worsening inflation
A significant amount of the UK’s meat production may become non-compliant for export to the EU if proposed changes are implemented, the sheep sector has warned.
There has been “greater friction” and “difficulties” over trade since Brexit, Health Secretary Steve Barclay has admitted, as he denied a report that the government is considering adopting a Swiss-style relationship with the EU.
The US economist and former Monetary Policy Committee member on how Britain became so poor and where Labour is going wrong.
The British government on Sunday denied a report that it is seeking a “Swiss-style” relationship with the European Union that would remove many of the economic barriers erected by Brexit — even as it tries to improve ties with the bloc after years of acrimony.
Sick of customs delays and extra bureaucracy since Britain left the European Union, Farrat, a small manufacturer on the edge of Manchester, is ramping up investment to compensate - in Germany.
Brexit added £210 to the average household food bill in the two years to the end of 2021, new research suggests.
Extra checks and requirements on goods crossing the border has increased food prices by 6% overall, says the Centre for Economic Performance.
Brexit added almost £6bn to UK food bills in the two years to the end of 2021, London School of Economics (LSE) researchers have discovered.
Brexit piled on an average of £210 extra to household food bills in two years, a fresh research paper has found.
Supply-chain pain caused by the UK’s split from the European Union still lingers for British manufacturers and retailers trying trade with the rest of Europe and beyond.
Brexit created "frictions" in trade that impacted the UK economy, Work and Pensions Secretary Mel Stride has said.
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.”
Brexit-related trade barriers have driven a 6% increase in U.K. food prices, adding to a squeeze on consumer spending power, according to a new report.
LSE researchers estimate that extra barriers on EU food imports have pushed up bills by £250 on average.
New research by the London School of Economics (LSE) has revealed that British households have incurred a £7 billion ($8 billion) cost since Brexit due to trade barriers affecting food imports from the EU.
Extra trade barriers created by Britain's exit from the European Union and subsequent trade agreement have added 6% to the cost of food, researchers from the London School of Economics and other universities estimated on Wednesday.
Brexit border checks on goods have forced up prices as food firms have to hire thousands more staff to wade through the new red tape, researchers found.
Brexit has been ‘big success’ says government – despite 60% of exporters struggling with red tape
31/01/2022
Top business body calls for ‘urgent action’ to ease trading barriers.
Research has revealed that during the two years leading up to the end of 2021, Brexit cost UK consumers a total of £5.8 billion in food bills.
Leaving the EU has added a cost burden to the already record prices households pay for their electricity.
Brexit has made supply chain "bottlenecks" worse in the UK, according to the independent financial watchdog that provides the government with data.
Office for Budget Responsibility contradicts government line. / Mr Johnson [Institute for Fiscal Studies] also said the OBR's estimated reduction in trade, productivity, and living standards from Brexit was "bigger than the expected long-run effect of the pandemic".
Brexit hitting UK economy and damage set to worsen with new trade barriers, Budget watchdog warns
07/03/2024
Brexit is dragging down the economy and its impact is set to get worse due to new trade barriers, the Government’s Budget watchdog is warning.
Kent farming giant reports 8% fall in harvest due to lack of seasonal pickers – saying it’s easier to import fruit.
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.
Fears of new disruption to fresh produce supply from EU when import controls hit in October.
Barriers to exports and imports in the form of paperwork have caused delays and higher costs - and it could be about to get worse.
An additional £600m in costs hit British importers since Brexit came into force, taxes which were not required when Britain was in EU's single market.
Giraffe Flowers in Manchester, northern England, is preparing for the annual Valentine's Day rush but florists fear that Brexit trade barriers will increasingly spell higher costs and delays for their business.
Business leaders have called for urgent removal of red tape that is damaging trade between the UK and the EU.
European Central Bank research also indicates that a significant number of UK firms have ceased trading with the EU due to increased bureaucracy.
Any additional or persistent uncertainty around Brexit “is not going to help” with soaring energy prices and the high cost of living, the European Commission (EC) vice president has warned at a meeting in London today.
Mr Drakeford, who is stepping down next month after five years as First Minister, said Brexit had left Wales a billion pounds worse off and cut off from the rest of the world.
According to the Office for Budget Responsibility (OBR), shortages across various industries have been “exacerbated” by new immigration rules for EU citizens and trade barriers with the bloc.
Scotland’s rural affairs secretary hit out at the UK leaving the EU two years on from the finalisation of a deal to leave the bloc.
Brexit “slammed the brake on UK investment”, SNP economy spokesperson Stewart Hosie has said. / Responding to Chancellor Jeremy Hunt's Spring Budget, Mr Hosie argued the UK economy was “one of the weakest” in the G7.
Two of London's major summer art fairs have been cancelled this year, with organisers saying Brexit is partly to blame.
Britain has delayed imposing its full post-Brexit import controls on goods from the European Union again, pushing it back until the end of next year, saying it did not want to add more fuel to fast-rising inflation.
Britain’s economy is forecast to shrink by 0.4% in 2023, more than any other in the Group of Seven richest nations, according to the Organization for Economic Cooperation and Development (OECD). Britain is the only G-7 member whose economy has yet to return to pre-pandemic levels.
Customs checks and border queues cited as leading barriers, as only 29% of firms say sales increased in Q2.
Brexit is thought to be a key reason why Britishvolt couldn't attract the private investors it needed.
Bureaucratic Brexit checks have begun and are hitting British businesses when they’re at their most vulnerable
06/01/2022
Inflation is rising, worker shortages are grinding us down and consumers are hurting, but No.10 is introducing measures which will make the situation worse
By the end of 2021, Brexit had already cost UK households a total of £5.8 billion in higher food bills – new LSE research
01/12/2022
Leaving the European Union (EU) added an average of £210 to household food bills over the two years to the end of 2021, costing UK consumers a total of £5.8 billion, new research from the Centre for Economic Performance (CEP) at the London School of Economics finds.
Jeremy Hunt insisted the UK would find a way to improve trading ties with the EU without rejoining the single market. / "The latest evidence suggests that Brexit has had a significant adverse impact on UK trade, via reducing both overall trade volumes and the number of trading relationships between UK and EU firms."
Speaking to Sky News, a former British ambassador to Japan noted the impact of Brexit, saying many companies are maintaining a presence in the UK, but moving the bulk of their operations to Europe. / Asked about the former ambassador's assertion, Labour's shadow environment secretary Jim McMahon told Kay Burley: "To some degree, it's a natural consequence of leaving the single market."
Deli meat and cheese imports 'incredibly difficult' as new Brexit rules come into force [2 mins]
04/01/2022
Shane Brennan, chief executive of the Cold Chain Federation, discusses new Brexit import rules with Sky's Ian King.
Manufacturers warn of ‘devastating price war’ on consumers if tariffs are enforced in 2024.
When the most anti-EU newspapers are pointing to the policy’s inevitable failures, it’s time our government admitted the truth.
Britain leaving the EU with no deal would be "extremely bad" for both parties, the former head of the World Trade Organisation (WTO) has said.
A former senior civil servant in charge of Brexit planning has warned some British businesses may “give up importing” as a result of new rules implemented in the new year.
An honest assessment of Brexit from Fareed Zakaria of CNN... "On virtually every measure, from business investment to exports to employment Britain is falling behind its peers."
Just as firms wrestle with a global supply chain crisis and fresh pandemic restrictions, companies in the U.K. and European Union face another looming headache: More post-Brexit red tape.
Alarm raised over business ‘barriers’ which ‘cost jobs and money in the UK’ – as public unhappiness confirmed. / “no appetite for widespread deregulation or divergence from EU rules” – UK Trade and Business Commission
From Brexit to Regrexit [9 mins]
10/01/2023
Almost three years after the United Kingdom's formal departure from the European Union, voters are turning sour on the 2016 decision to leave. A recent poll showed that 57% of voters view the departure from the EU as a mistake compared to the 52% who voted for the original Brexit referendum. So what changed?
'...it is a good time to take stock of the Gibraltar strand of Brexit and how that intertwines with the Brexit saga and, ultimately, to the extent that it does represent a certain kind of completion, a good time to take stock of Brexit itself.'
Global Britain has failed – what next?
16/02/2024
The vision of post-Brexit Britain was one of international trade deals that would propel the country into a new era of prosperity. That vision of “Global Britain” is now dead. Thomas Sampson argues that the only viable alternative is a closer trade relationship with the EU.
When the Brexit transition period ended, new barriers for UK-EU trade were introduced.
'...my self-imposed task of documenting the Brexit impact has become a challenge not so much because of the difficultly of weighing up the positives and the negatives, but rather due to the sheer amount of damage Brexit is doing up and down the country, left, right and centre, and across sectors.'
A new study has explored how Brexit is contributing to rising food costs in the UK.
How has Brexit impacted UK imports?
27/04/2022
Brexit resulted in a 25% fall in imports from the EU and created “a large increase in barriers to trade”, according to research.
I have started reading the Brexit literature again. A recent paper – ‘What impact is Brexit having on the UK economy?’ by Graham Gudgin, Julian Jessop and Harry Western (GJW) from October 2022 argues there is no hard evidence of harm and that studies that claim to find harm are biased and/or incompetent! In this blog, I consider a few of their points in four areas.
The UK's finance minister has said he recognises that Brexit has brought trade barriers with the EU, but rejected calls for Britain to rejoin the single market, arguing that most obstacles can be removed over time.
Jeremy Hunt quizzed on rejoining single market as he concedes damaging trade barriers created by Brexit deal
18/11/2022
Jeremy Hunt conceded there have been damaging trade barriers with the EU created by Boris Johnson’s Brexit deal.
Liberal Democrat conference: Tear down 'Tory' trade barriers with Europe to boost economy, says Ed Davey [7 mins]
19/03/2023
Sir Ed Davey said the UK must repair its "broken relationship with Europe" to boost the economy as the Lib Dem leader set out his party's main arguments for winning seats at an election during the spring conference.
Michael Gove has failed to name a single change from Brexit that has “made business easier”, as criticism of the economic harm from the trade deal grows.
Brussels’ former Brexit chief urges collaboration on shared challenges and reflects on tumultuous talks.
Brexit has failed to deliver any notable economic benefits, more than six years after the vote to leave the EU, David Davis has admitted.
Non-Tariff Barriers (NTBs) are the main policy impediment to international trade, yet little is known about their pass-through to prices. This paper exploits the Brexit trade policy shock to quantify how NTBs affect consumer prices and welfare.
Non-Tariff Barriers (NTBs) are the main policy impediment to international trade, yet little is known about their pass-through to prices. This paper exploits the Brexit trade policy shock to quantify how NTBs affect consumer prices and welfare. The increase in NTBs raised prices by 6%, implying a pass-through of 50-80%.
Nothing to see here - Chris Grey
19/06/2020
'The Brexiters have no more idea in private than they do in public about what they are doing. Predictions based upon their concealed intent project on to them a competence they simply don’t possess.'
The Covid threat to GDP is waning, but don’t expect the pain wrought by leaving the EU to subside any time soon.
Our politicians won’t mention the B-word – but Brexit has made Britain’s economic crisis worse
17/05/2022
Our silence over the issue is compounding the problem.
Post Brexit inflation is making UK "sick man of Europe" | Economics | The New Statesman [22 mins]
18/06/2022
A "perfect storm" of Brexit, covid and poor macroeconomic fiscal policies by the Conservatives has weakened Britain's economy and diminished the UK's standing in Europe, says economist Duncan Weldon.
The move has been dubbed "the most explicit acknowledgement by the UK government that Brexit trade barriers are inflationary."
EU and UK businesses will face ‘inevitable’ extra costs while the post-Brexit trade deal remains in place, European Commission Vice-President Maroš Šefčovič warned on Monday (12 June), playing down the prospect of a major overhaul of the agreement.
THE pound has fallen to its weakest level against the US dollar since 1985 amid fears the UK is heading for a lengthy recession.
"As every single serious economist argued, massively raising barriers with your main trade partner is an extraordinary act of self-harm."
According to the Bank of England, higher borrowing during the pandemic is to blame for putting more businesses at risk.
As part of a week-long series on the disastrous impacts of Brexit in Scotland, the Daily Record visited fishermen in Peterhead who feel they were 'sold down the river'.
Simply Screwed – how Brexit is ruining the UK’s touring industry (and how YOU can help repair it)
30/10/2021
Covid-19 has prevented just about all music touring... They will play to packed houses, festivals and stadiums as soon as people are free to attend. But touring for all types of UK musical performers after Brexit is beset with administrative difficulties, barriers to trade and hoops to jump through. It is also exporting jobs and tax income to the continent and beyond.
Sir Keir Starmer has told Sky News the UK needs a "better" Brexit deal and has said a government under his leadership would renegotiate with the EU.
Sir Richard Branson has ruled out investing new cash in the UK for the foreseeable future, claiming the economy has been hamstrung by trade barriers and “red tape” brought on by Brexit.
Northern Ireland minister’s proposal comes after PM denied plans for Swiss-style relationship with EU.
Labour leader to urge PM to take on Eurosceptics in attempt to resolve Northern Ireland protocol issues.
Sunak talks about ‘fairy tale’ economics – let’s not forget he backed Brexit, the biggest ‘fairy tale’ of all
26/10/2022
The new Prime Minister was decisively on the side of those who claimed that the country would have a better future outside the EU.
As Tata Steel announced significant job losses in Port Talbot, Byline TV asked Carwyn Jones why it’s happened. The answer: Brexit, and apathy.
In this film, senior FT writers and British businesspeople examine how Brexit hit the UK economy, the political conspiracy of silence, and why there has not yet been a convincing case for a 'Brexit dividend'.
The impact of Brexit has only added fuel to the fire of severe challenges facing health and social care in the UK, warns the Nuffield Trust.
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.
The impact of a new customs and regulatory border with the EU for UK companies trading goods
01/10/2021
The introduction of a new regulatory and customs border has made it more difficult and more expensive to trade with the EU. This impacts UK firms who import and export from and to that 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.
The impact of Brexit, in charts
03/01/2023
How has leaving the EU affected Britain?
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.
British Chambers of Commerce presents government with urgent recommendations as members report struggling to sell into EU.
Treasury minister Andrew Griffith told MPs Brexit 'can deliver and is already delivering enormous benefits' - but hastily added there wasn't time to reel off any of them.
Steve Barclay was forced to deny reports the UK Government is considering adopting a Swiss-style relationship with the EU.
Imports from Northern Ireland to Ireland up 23%, while trade in other direction increases by 42%.
Trade Consultation: Give Your Evidence - UK Trade and Business Commission [Deadline: 17/03/2023]
23/01/2023
The UK Trade and Business Commission is gathering evidence to understand the main challenges facing businesses, organisations and economic sectors to establish which policies and trading arrangements will help overcome the economic and trading barriers facing the UK today.
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.
Sales to trading bloc down more sharply than to rest of world as businesses grapple with delays, extra costs and new red tape.
HMRC figures analysed by accountancy firm Hazlewoods indicates major decline in fruit sales to EU countries following introduction of trade barriers.
Many UK-based independent sellers on marketplaces such as eBay and Amazon could suffer a significant hit to US sales from planned changes to import rules under Donald Trump, with experts comparing the impact to a second Brexit.
Government accused of ‘failure and broken promises’, as exports set to slump next year.
“Furthermore, exports likely will continue to struggle as external demand in key trading partners softens and Brexit frictions remain in place.”
According to the Office for National Statistics (ONS), within the last quarter of 2022, the UK imported about £33billion more than it exported to the EU. / This is the worst performance of the UK export trade balance since records began in 1997. / This is a shocking testimony that Brexit has caused fundamental deep-rooted damage to British exports.
Volume of Irish-British freight traffic has been ‘significantly altered’ by Brexit, survey suggests
13/08/2021
Post-Brexit trade frictions have led to ferry freight flows between Great Britain and the Republic of Ireland dropping by 29% in the first half of 2021.
His manifest error in declaring there are "no non-tariff barriers" for trade with the EU had business leaders falling off their chairs.
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.
The economic fallout from leaving the EU is becoming all too apparent.
The UK economy is yet to feel the worst impacts of Britain’s divorce from the European Union, senior business leaders said, in spite of Prime Minister Rishi Sunak’s recent efforts to smooth relations with the bloc.
Red tape continues to frustrate small businesses as the hunt for the sunlit uplands goes on.
Inflation for what Britons consume would have been nearly a third lower had the UK stayed in the EU, study finds.
‘We left the gym, now we can’t use the equipment’: Business owner says Brexit consequences are still to come
07/01/2022
"And for those people blaming who are blaming the EU, it's not the EU's fault. We voted for this."
“You’re running a natural experiment in what happens when you run a trade war on yourself” - Adam Posen
27/04/2022
@AdamPosen is speaking with @lizzzburden about food prices and inflation at #EconafterBrexit
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