HomeThemesTypesDBAbout
tag: G7 ×104

items

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.
A Bank of England policy maker has warned that a wave of business investment was “stopped in its tracks” by Brexit, dealing a blow to the UK economy worth £1,000 ($1,204) per households.
"Good to see the BBC wading into the fray at last, now that the damage it's causing is too great to conceal", one person said.
US president Joe Biden can “see through the spin and fog” from London on the Northern Ireland protocol and will urge the British government to implement the deal it agreed, Minister for Foreign Affairs Simon Coveney said on Wednesday.
Boris Johnson is scrambling to avoid his big G7 Summit from sliding into a damage limitation exercise.
THE UK will be the only major economy to plunge into recession the year, the International Monetary Fund (IMF) has warned – with the finger pointed at the “economic self-harm of Brexit” on the three year anniversary of Britain leaving the EU.
Britain's trade performance is lagging increasingly behind that of other similar economies, according to data that suggest Brexit has had a detrimental effect on exports, on top of the COVID-19 pandemic.
Adam Posen, a former Bank of England policy maker, said most of Britain’s inflation problem stems from Brexit and that he’d vote for a half-point interest rate increase to curb an upward surge in prices.
In reality, Brexit has hobbled the UK economy, which remains the only member of the G7 — the group of advanced economies that also includes Canada, France, Germany, Italy, Japan and the United States — with an economy smaller than it was before the pandemic.
LSE finds one-third decline in trading relationships under Boris Johnson’s deal – which has hit small firms hardest. / Brexit red tape means the UK has “stopped selling” many products to smaller EU countries, according to alarming new evidence of the impact on trade.
Brexit has been "catastrophic" for British businesses and the country has "suffered" as a result, the chairman of Asda has said.
Britain's exit from the EU has so far made trade more expensive because of delays and red tape, and there could be border disruption ... the UK Public Accounts Committee said today. / Britain became the last G7 developed nation to see its goods exports surpass their 2018 average level since the onset of the Covid-19, underlining its poor trade performance.
UK economy could be comparable to “Slovakia” in 10 years - says economist Duncan Weldon. / Will Dunn is joined by Duncan Weldon ... The two discuss the “uniquely” bad situation of the British economy, what role Brexit played in getting us here...
As Prime Minister Boris Johnson prepares to depart Downing Street, tossed from office by his own party, his legacy — the opening lines of his eventual obituary — will call him the man who “got Brexit done.” / So how is that going? What can be said about the post-Brexit Britain that Johnson is leaving behind?
We were promised sunny uplands and a oven ready deal: instead we've been served extra helpings of cow excrement. As Nigel Farage admits Brexit is a disaster, car manufacturers threaten to walk and Keir Starmer calls for a renegotiation, it's time to accept reality.
‘The project is probably now unsalvageable’, says former PM’s old employer. / The Conservatives have made such a “hash” of Brexit that the project is probably “unsalvageable”, according to Boris Johnson’s favourite newspaper.
The International Monetary Fund ruffled feathers across the Irish Sea with its new forecast for the UK economy this week, now expecting GDP growth to slow to a paltry 1.2pc in 2023, by far the slowest amongst the G7 economies.
The Brexit bills are starting to fall due for Boris Johnson just as the U.K. prime minister seeks to cast himself as a global statesman leading the Group of Seven’s fight to defeat Covid-19.
Once again the lead proponents of Brexit are so divorced from reality that it borders on the comical. / Nigel Farage’s GB News show delved into the murky pits of absurdity last night as grown-ups discussed the deeply damaging effects of Brexit on a real TV channel.
In our series looking at life after Brexit, the European parliament’s former negotiator Guy Verhofstadt argues that Britain exchanged a Jaguar for a Ford Fiesta in the 2016 referendum.
Financial Times US Editor-at-Large Gillian Tett says many people in the United States “are just baffled” Britain went along with Brexit, describing it as an “act of self-sabotage”. / “Britain has got the worst performance amongst the G7,” Ms Tett told Sky News Australia host Piers Morgan.
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.
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.
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.
“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.
Most people think Brexit has gone badly, a UK survey finds, and Johnson has left behind a mess of problems for a new PM.
The UK economy has been forecast to suffer an over £700bn blow to output due to the collision of Covid-19 and Brexit, the National Institute of Economic and Social Research warned today.
Household incomes are around £1,500 year lower today than they were expected to be before the Brexit referendum – with the UK having experienced the sharpest income growth slowdown of any economy for which the OECD publish data.
A top European Union official said Wednesday that Britain could face retaliatory tariffs or other sanctions after talks failed to resolve an increasingly heated dispute over implementation of their post-Brexit trade deal in Northern Ireland.
Brazil’s handling of forest fires set to top agenda of G7 countries at meeting in Biarritz this weekend
The “sausage war” row between the UK and EU deepened today as the Elysee Palace rejected claims that Emmanuel Macron confused the constitutional status of Northern Ireland in a conversation with Boris Johnson at the G7 summit in Cornwall.
George Eustice pulls no punches as he lays into the former prime minister in parliament, lambasting Ms Truss's achievements as international trade secretary.
The former chancellor said the Conservatives, Labour and national broadcasters "won’t talk about it", but the split with the EU is to blame.
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.
It would take just a few to say that it is a "bit of a mess and we are going to have to work together to solve it" to get Britain back on track. / “I thought Brexit was frankly completely nuts,” he said.
The UK economy will perform worse than any major economy this year, even worse than sanctions-hit Russia.
We are stuck in the Tory game of make-believe that everything is coming up roses in an English country garden. The reality is that following Brexit the rest of the world looks at England with a mixture of perplexity, pity, and amused contempt.
Prime Minister Fumio Kishida urged his U.K. counterpart Boris Johnson to reach a deal with the European Union on Northern Ireland that doesn’t hurt Japanese companies operating in Europe.
In an extraordinary diplomatic rebuke a senior US diplomat accused the UK's Brexit Minister of 'inflaming tensions' over Northern Ireland in a trade row.
The president of America will tell Boris Johnson not to let the row over Northern Ireland's Brexit arrangements put the Good Friday Agreement at risk as the two meet up in Cornwall ahead of G7 summit on Thursday.
Joe Biden's administration has warned the British government against anything that would put the Northern Ireland peace process at risk.
Shadow foreign secretary tells HuffPost UK the US president will want Boris Johnson to “step up” and solve row over Northern Ireland.
The former MP for Vauxhall suggested an Irexit would soon be on the cards after the UK left the EU. How wrong she was!
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.
A parliamentary committee has criticized the British government over trade disruptions caused by Brexit. It has warned of further disruptions as the pandemic subsides. / The UK was the last of the Group of Seven — which includes France, Germany, Italy, Japan, Canada, and the US — to see its exports surpass the average level from 2018.
It is increasingly evident that leaving the European Union — the world’s richest single market — was a monumental act of self-harm for the UK. African countries should take heed and cooperate to ensure the success of the African Continental Free Trade Area.
French President Emmanuel Macron offered on Saturday to reset relations with Britain as long as Prime Minister Boris Johnson stands by the Brexit divorce deal he signed with the European Union.
French President Emmanuel Macron sought to portray a united European front at the G7 summit on Friday (11 June), tweeting a picture of the five EU leaders together, in a thinly veiled warning to the UK that the EU is united about the implementation of the Brexit agreement.
As we recover from the pandemic, the impact of Brexit – which we voted resoundingly against in Scotland – is becoming clearer by the day.
The introduction of new post-Brexit trading rules last year caused a "major shock" to UK-EU trade, a study claims.
The former UKIP leader made the surprise comment as he was presented with the mounting evidence that quitting the European Union has damaged the British economy.
Speaking at the CBI’s annual conference in November, 2022 UK prime minister Rishi Sunak argued that Brexit is “already delivering enormous benefits” to the UK economy. Our Poll asked: Do you agree?
“The reason the UK will have the lowest growth in the G7 next year is Brexit. We’re not going to reverse the decline until we begin to remove the barriers – economic, social, scientific – that we chose to erect with the rest of our continent. That’s not rocket science. Just say it.”
Grays, a town near London, voted overwhelmingly in favour of Brexit. But three years after severing ties with the EU, some are feeling remorse as the country lurches from one crisis to another.
Britain's economic recovery from the coronavirus pandemic lagged behind that of other rich nations in the July-September period, according to official data on Thursday which underscored the interest rate dilemma facing the Bank of England.
Chris Heaton-Harris says "no", leaving the EU has not damaged the economy. / Northern Ireland Secretary Chris Heaton-Harris was left struggling to defend the economic case for Brexit, after being put on the spot by Sky News’ Sophy Ridge.
Liz Truss and Rishi Sunak feel bound to talk lower spending to party members, but the former chancellor at least must see the folly of losing billions off our GDP.
Rishi Sunak's triumphalism over solutions on Northern Ireland and migrant boats ignores the fact the issues only arose because of Johnson's flawed Brexit deal - which he endorsed.
New Labour’s architect says only rebuilding bridges with the EU will solve what Sunak calls Britain’s ‘profound economic challenge’.
CBI warns uncertainty is crippling UK economy with country at risk of lagging behind G7 competitors.
Boris Johnson is about to feel the pinch of Brexit Britain’s new global status: squeezed on one side by Europeans in no mood to yield, and on the other by a United States driving a hard bargain for its economic support.
The UK is weighing up whether to attend a new European political "club of nations" next month.
The UK economy contracted 0.2% between April and June, its worst performance since 2012, the Office for National Statistics said.
The forecast leaves the UK economy languishing behind sanctions-hit Russia.
NIESR says UK facing worse permanent damage than other rich nations due to ‘poor Covid response’ .
However, disenchantment with Brexit has been one of the most notable trends of 2022 with a feeling that it has not lived up to the promises made at the time of the referendum. / Two thirds or 65% of British people think Brexit has gone badly compared to just 21% who think it has gone well according to an Opinium survey in early December.
UN figures show value of British goods and services exports rose by 6% between 2012 and 2021, compared with 29.1% for EU.
British factories slashed jobs in February and braced for Brexit by stockpiling goods at the fastest pace seen in any Group of Seven country since records started in the early 1990s, a survey showed on Friday.
Thinktank says Brexit and Covid-19 mean Britain could take bigger economic hit over next few years.
Paul Johnson responds to IMF warning that UK will be weakest major G7 economy this year.
Dominic Raab says he wants to turn page on Brexit saga and treat EU with respect it deserves.
Former Bank of England policymaker Adam Posen insists 80% of high price growth is due to Britain leaving EU.
A weaker than expected recovery from the coronavirus pandemic has left the UK as the only G7 country with a smaller economy than in early 2020, according to official figures likely to further undermine the government’s tax-cutting measures.
British lawmakers are voting on whether to overturn a big cut to the U.K.'s foreign aid budget.
The UK’s goods trade is lagging far behind the rest of the G7, while services are booming.
THE UK will suffer the worst recession of any of the world's top economies as Britain's painfully high rate of inflation is exacerbated by the effects of Brexit and the UK Government's untargeted energy support scheme, a new report has found.
The UK economy looks sickly against international comparisons, so let’s be honest about the three causes.
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."
"As far as trade is concerned, things are panning out in the manner once stupidly dismissed as “Project Fear”. And we will be poorer as a result."
"The jury is in, the fat lady has sung, there is no debate anymore." / The UK is on track to be the worst-performing G7 economy this year – despite an upgrade from the International Monetary Fund.

types

◈ news ×84
◈ video ×4

related tags

◈ GDP ×31
◈ trade ×26
◈ NI ×22
◈ growth ×22
◈ OBR ×17