Even voices on the Right acknowledge this fact, says Paul Vallely. / THERE have been so many U-turns recently that you might be forgiven for having missed this one. The Daily Telegraph ran a piece at the weekend headlined: “Project Fear was right all along.”

Taoiseach Micheál Martin says legislation that has been published on the Northern Ireland Protocol "would effectively be very damaging to the NI economy".

Our Economics Correspondent @HeliaEbrahimi explains how no-deal Brexit preparations are impacting the UK economy.

Treasury secretary John Glen tried to dodge the question when quizzed on the Today programme.

PM dug into a corner by refusing to compromise on sovereignty but EU reached ‘pain threshold’

Adam Posen, Peterson Institute for International Economics president, discusses U.K. Prime Minister Theresa May’s Brexit speech on Friday.

Britain is already heading for the worst coronavirus-induced slump of any major economy. Now fears are rising that businesses could be slammed by a second body blow this year — the failure of trade talks with the European Union.

This is the most chilling explanation of what Brexit will do to the UK economy after December. By @AdamPosen, President of the Peterson Institute for International Economics.

Two years after Britain’s departure from the European Union, bosses of UK businesses are reeling from the cost of Brexit, including some who voted to cut ties with Brussels.

Sadiq Khan is expected to attack the Government’s “denial and avoidance” of the “immense damage” he says Brexit is wreaking upon the country.

US Embassy staff discussing Brexit. They know Brexit is a disaster and that the British Govt are not telling the public that 52% voted for something that's likely to be "very very bad".

Companies in the United Kingdom and the European Union face an extra £58 billion ($80 billion) in annual costs if there is a no-deal Brexit, with the U.K.’s vast financial sector set to be the worst-hit industry, according to a report issued Monday.

Parliament hears proponents of leaving the EU are “in a state of confusion and denial” as calls grow for public inquiry.

Former Monetary Policy Committee at Bank of England Michael Saunders said Brexit is to blame for "persistent" and "lasting" damage to the UK economy.

The UK is lagging behind European counterparts in terms of growth because of Brexit, the Director of Tax Research UK tells Nick Ferrari.

Krugman rejects the assertions of Brexiteers that leaving the single market and customs union will ultimately help the UK export more to the rest of the world.

It’s almost 100 days since Britain completed its split from the EU -- almost five years after the referendum vote –- and a clearer picture of the consequences of the decision to leave is starting to emerge.

The first concerns the United Kingdom. Aside from a few hard-liners, Brexit -- the decision to leave the common market made by Boris Johnson's administration -- has become a disaster.

Probably not the anniversary present the government was hoping to offer the public.

Three years after the UK formally exited the European Union, the International Monetary Fund (IMF) has released new economic forecasts for 2023 which project that the UK will be the only advanced economy to contract this year.

ix years after the EU referendum, the United Kingdom is being forced to confront an inconvenient truth: Brexit is a process, not an event. It is emphatically not done. Only now are the consequences of the “oven-ready deal” of which Boris Johnson boasted becoming clear.

Boris Johnson is poised to become prime minister thanks to a small, unrepresentative population of Brexiteer voters bent on destruction.

The shadow foreign secretary said the current UK-EU trade deal is damaging the British economy.

Ever wondered why your taxes are so high and public services are in such a poor state? Now you know.

Sophie Stowers and Alan Wager look back on a year in Brexit, using the UK in a Changing Europe/Redfield and Wilton Strategies Brexit tracker poll to highlight five key trends in attitudes to Brexit in 2022.

Data from HMRC shows that the value of Scottish exports has fallen by more than £2.2billion in the past two years.

The US economist and former Monetary Policy Committee member on how Britain became so poor and where Labour is going wrong.

This reshuffle will make little difference: the country is going nowhere as the PM leads us further down an economic dead end.

The battle for foreign investment is not a game conducted on public school playing fields. It is ruthlessly fought by governments armed with every trick in the book.

“You bring Brexiters on, you never challenge them. You let them talk utter rubbish about Brexit. Year after year after year.”

Boris Johnson and his team have only 3 months before Brexit, "very little time" to make significant preparations for a no-deal scenario says Sumona Guha, Albright Stonebridge Group Vice President.

Almost half of the lorries currently crossing the Short Straits from the UK to France are empty, according to data from the Road Haulage Association.

ITV News Business and Economics Editor Joel Hills reports on how the economic impacts of Brexit continue to ripple through the UK's economy.

Poll finds just 25 per cent of voters think PM will get a deal which is good for Britain.

THERE have been no advantages to leaving the European Union, the Constitution Secretary has said on the second anniversary of the end of the Brexit transition period.

A trade collapse with the EU shows that the damage will linger on far longer than Liz Truss did.

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.

British PM is now more likely to push for 'harder' divorce from EU.

A comprehensive and impartial assessment of the implications of Brexit for economic activity in the UK and the rest of the world.

Farmers fear that deal will mean they risk being undercut by cheap imports made to lower animal welfare standards.

The Bank of England expects growth this year to be the slowest since 2009 when the economy was in recession.

Brexit uncertainties are becoming "more entrenched" and increasingly weighing on the British economy less than three months before the country is scheduled to leave the European Union, the Bank of England said Thursday.

The Bank of England indicated Thursday that it could cut interest rates below zero for the first time in its 326-year history as it tries to shore up a U.K. economic recovery that is facing the dual headwinds of the coronavirus and Brexit

A no-deal Brexit would be an economic and social “catastrophe”, a senior banking industry leader has warned.

"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.

If Britain ends up in the recession expected by the Bank of England, public anger will be looking for an outlet. / I asked Albrecht Ritschl, professor of economic history at the LSE, what single move the UK government could make to alleviate the pain. “Suspend Brexit for 20 years.”

Brexiteers promised to “take back control.” But the decision has instead delivered recession, gloom, and despair.

Bank of England Chief Economist Huw Pill suggested that the UK is yet to see any positive economic benefits from exiting the European Union.

Andrew Bailey said the deal was broadly in line with what the BOE forecast in November.

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

Government refuses to commit to publishing any forecast of the costs to jobs and families.

Protest that 'public is being kept in the dark' over expected economic hit of up to £130bn.

A couple of points are worth observing already. Nearly six years on from the Leave vote, the supposed opportunities of Brexit remain entirely conspicuous by their absence. And ramping up the rhetoric by claiming “immense opportunity” does not change this reality.

London: British Prime Minister Boris Johnson has ordered ministers to slash one in five public service jobs to free up billions for tax cuts.

Ivan Rogers says some in Downing Street appear to be ‘misjudging’ negotiations.

The UK government will ultimately back away from a no-deal Brexit because trading on World Trade Organisation rules with Europe would be simply too damaging for UK business after the Covid crisis, Peter Mandelson has predicted.

Theresa May’s former chief of staff attacked Boris Johnson’s Brexit deal as being “bad for our Union and for our economy” in the House of Lords.

The report estimated the PM's deal would be worse for the economy than continuing with the current indecision and uncertainty

Prime minister's proposal worse for economy than Theresa May's deal, analysis says.

Conservative manifesto plans mean continued Brexit uncertainty and risk no-deal crash-out at end of 2020, says thinktank.

Survey shows 88% of 100 leading academics believe a Canada-style trade deal with the EU will have a "negative" impact on Britain's economy.

Boris Johnson's government is accused of an "utterly staggering and a complete dereliction of duty" after admitting that it has no plans to carry out an assessment of the economic impact of the prime minister's Brexit deal.

In historical terms, however, those transgressions will end up being little more than footnotes. Viewed from afar, Johnson’s greatest failing is liable to be what he hoped would be his glorious legacy: Brexit.

MPs are increasingly looking to review point of trade deal in 2025 to push for better terms.

Some companies will have to move operations to the EU due to trade barriers, Office for Budget Responsibility says.

According to our study, the deal now being discussed would reduce per capita GDP by 6.4%, as opposed to 4.9%

Institute for Fiscal Studies says it is 'plausible' to expect a £50 billion boost to UK economy if Brexit is cancelled.

North’s economy will be closer to Republic’s in terms of rules, regulations and practices.

The next, Brexit-induced recession will be most painful for poorer households, who are also those that voted Leave in greatest numbers.

Regardless of a deal or no-deal Brexit, the current political uncertainties are challenging the UK's position as the premier location for resolving disputes. Commercial courts have already opened in Paris and Amsterdam, with proceedings conducted entirely in English and expressly aimed at competing with the UK.

Brexit is partly to blame for historically high inflation in the UK by causing labour shortages, strengthening pricing pressure among firms, and weakening the economy, Bank of England chief economist Huw Pill has said.

As self-inflicted disasters go, it ranks as one of the worst in modern economic history."

Three-quarters of accountants here regard Brexit as a strongly negative influence on the economy, contributing to their highest level of concern since before the referendum.

Brexit has added to the UK's economic woes by lowering the value of the pound and contributing to price rises, an ex-Bank of England governor has said.

Boris Johnson became prime minister on the promise that Brexit would bring prosperity and pride. Did it?

BoE economist warns no-deal Brexit would likely lead to interest rate cut. / Brexit has already cost the UK economy £40bn per year – or £800m per week – in the period since the EU referendum in 2016, according to Bank of England economist Jan Vlieghe.

Figures from HMRC show that exports from Scotland to the EU have dropped 13 per cent in the past two years

“The entirely avoidable Brexit crisis has had as much of an impact on UK businesses as the unforeseeable Covid-19 tragedy, and its costs are still rising."

The political choice of Brexit has cost UK businesses as much as the unforeseeable Covid pandemic.

The independent Office for Budget Responsibility has calculated that the scarring effect of covid lockdowns on the UK economy is only half of what it has cost the UK to leave the European Union.

In recent months, British public opinion on the issue of Brexit has shifted. Many people in Britain are becoming more critical of Brexit.

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.

But six years on, reality is kicking in and some of the most ardent Brexiteers - including the heads of major UK employers - are starting to change their tune.

Britons must look at themselves calmly and honestly, recognizing the tough times that lie ahead and the changes needed to get the country back on track. Unfortunately, the country's political leaders remain unwilling to treat voters like grown-ups.

The UK has "significantly underperformed" compared to the European Union and the US since the referendum in 2016, new Goldman Sachs analysis shows.

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.

A year after Britain left the European Union, you could be forgiven for thinking the current economic gloom has nothing to do with Brexit, and everything to do with Covid.

New research from economics experts at Aston University has found Brexit has caused a largely negative effect on UK services trade since the EU referendum.

Keith Brown challenged pro-Union parties at Holyrood to explain how they would reverse "the dismal downwards trend" caused by the UK leaving the EU.

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.”

But Brexit minister now claims hard Brexit was ‘essential’.

Britain's moves to leave the European Union may complicate life for our exporters but will not damage New Zealand’s economy, Prof Robert Patman says.

The overall cost of Britain’s break from Europe is expected to be an astronomical £220 billion over four years, dwarfing the NHS budget which was a focal part of the ‘Leave’ campaign.

Brexit has cost the UK economy billions of pounds in lost trade and tax revenues, according to research shared with ITV News by the Centre for European Reform. / It estimates the economy is 5% smaller than it would have been if the UK had stayed in the EU.

The 4% hit to economic output envisaged by the UK’s fiscal watchdog could cost £84.5bn, Labour and Commons library research suggests.

Brexit will potentially cost London’s economy £9.5bn a year – with the capital’s service sectors bearing the brunt of the downturn, stark new research published by the Mayor of London, Sadiq Khan, reveals today.

Sadiq Khan urges government to strike financial services equivalence deal with EU.

Brexit created "frictions" in trade that impacted the UK economy, Work and Pensions Secretary Mel Stride has said.

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.”

UK seeing ‘biggest squeeze on living standards’ on record, says head of fiscal watchdog.

The people of Scotland must be given a choice about their future given the damage inflicted by Brexit, Constitution Secretary Angus Robertson has said. / Marking two years since the end of the transition period to leave the European Union after 47 years of membership, Mr Robertson highlighted the negative impacts Brexit continues to have on Scotland’s economy.

THREE-quarters of business leaders believe Brexit is damaging the UK economy, a poll has revealed.

Leaving the EU with no deal in place would cause 'irreparable harm' to the UK economy, business group warned.

Boris Johnson's Brexit deal will leave the UK £70bn worse off than if it had remained in the EU, a study by the National Institute of Economic and Social Research (NIESR) has found.

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.

WELL, the cat is out of the bag. Brexit visionary Nigel Farage has finally admitted the truth – that Brexit has been an unmitigated disaster for households and businesses across these islands.

Britons facing ‘austerity’ budget as a direct result of decision to leave Europe, former Bank of England adviser says

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.

Brian Reade marks the third anniversary of leaving the EU by lamenting the huge cost the country has suffered as a result.

Speaking on LBC's Tonight with Andrew Marr, the former Chancellor implied that he still felt Brexit was the wrong decision after having stood firmly against it during 2016's referendum.

But so far, it’s not looking good: a hit to trade of this size entails big structural changes to the British economy, with capital and workers being shifted between sectors of the economy, businesses going bust, and higher prices for imports eroding living standards.

THE Tories’ chaotic Brexit project has already cost Scotland £3.94 billion, according to a new report from experts at Warwick University.

As we count down to Christmas, let’s reflect on the impact Boris Johnson’s hard Brexit has had on Scotland and the UK.

Brexit has delivered a £11.5 billion blow to the UK’s trade in goods since the 2016 referendum, a leading think tank said today.

Brexit is now the Conservative Party’s sacred cow. Not so much policy as religious faith. The merest hint of criticism is regarded as apostasy by a party dangerously in thrall to an agenda that threatens to shatter the United Kingdom and leave England stuck in a permanent economic slow lane, isolated from its neighbours and friendless in an uncertain world.

Despite the promise leaving the EU would help the UK control its borders, most people surveyed said Brexit had hampered the ability to control immigration.

Trade friction has ‘clear and robust’ impact on supermarket prices, say economists.

The Centre for European Reform (CER) estimates that leaving the single market and customs union at the end of 2020 has reduced UK trade by £7.7billion, or 11%, since March.

Hospitality entrepreneur and leave campaigner Luke Johnson has admitted that Brexit has cost the UK economy growth.

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.

System working ‘broadly as Leave advocates promised’, say think tanks’ report. / Post-Brexit immigration rules have led to a shortfall of around 330,000 workers in the UK and had helped fuel inflation, according to top economists.

Brexit has not had the expected effect of narrowly reducing exports to the EU, but has instead more broadly reduced how open and competitive Britain’s economy is, which will reduce productivity and wages in the decade ahead, according to new joint Resolution Foundation and LSE research.

The UK's economy is 5% smaller than it would have been if it had chosen to stay in the European Union, according to an analysis by Goldman Sachs.

Dave Ramsden said the 2016 referendum had contributed to a lower “speed limit” for the UK economy compared to other nations.

The report by The UK in a Changing Europe, published on Monday, assesses Brexit’s actual and future effects on inflation, productivity, public finances, and exports and imports.

Chancellor Jeremy Hunt has accepted that Brexit has imposed “costs” on the UK, but insisted he did not believe EU withdrawal would make Britain poorer in the long run.

Economists at Natixis are trying to examine the effects on the UK economy of the June 2016 referendum that triggered Brexit. They look at the different important variables and seek to determine what the overall effect of Brexit has been on the United Kingdom.

Brexit has left the UK economy 5.5% smaller than it would have been and added to the squeeze on public services that’s behind strikes crippling the railways and National Health Service, a prominent research group concluded. 

Brexit has reduced the competitiveness of the British economy, with alarming implications for productivity and wages, according to the Resolution Foundation.

Jeremy Hunt’s comments show how far we are from a rational debate about the economic consequences of leaving the EU.

The OBR forecast that Brexit would cost the UK economy 4% of GDP now looks ridiculously optimistic as the damage mounts.

Wonder what happened to 'let's fund our NHS instead?' / New research has found Brexit has cost the UK government £40 billion a year in lost tax revenue.

Jeremy Hunt’s budget shows that leaving the EU is only paying off in a parallel universe.

The Office for Budget Responsibility suggested leaving the EU would reduce the UK's long-term GDP by around 4% - compared to 2% for the pandemic and lockdowns.

Effects will continue to drag on economy for years to come, says Andrew Sentance. / Britain’s economy is trapped in “no-man’s land” by Brexit and the next decade could be the weakest for growth since the second world war, a former senior Bank of England policymaker has warned.

Thierry Breton, who is also single market commissioner, believes downsides of leaving bloc are exposed by pandemic

London, at the heart of the UK’s service sector economy, may lose up to £9.5bn in economic output a year from Brexit.

The hits to Britain's economy from Brexit are probably appearing faster than expected, Bank of England Deputy Governor Ben Broadbent said on Thursday.

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.

GIVEN the ruling Conservatives’ seeming penchant for pulling the wool over the electorate’s eyes on Brexit, it was heartening last week to hear Mark Carney deliver some home truths.

When the bell tolls at eleven o’clock tonight, ringing out Britain’s membership of the EU, an entire phase of British history will come to a close. For nearly half a century – from 1973 to 2020 – perhaps the single most important fact about British history was its membership of the European Union (or ‘Community’, until 1993).

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...

Securing any EU trade deal and regional development in the UK are steep challenges.

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.

“Brexit Opportunities Minister”. How about that for a contradiction in terms? Yet, this is a genuine post created for the oft-called “Member of Parliament for the 18th Century”, Jacob Rees-Mogg.

Brexit is costing the UK economy £100 billion a year ($124 billion), with the effects spanning everything from business investment to the ability of companies to hire workers.

Poll also shows that more than half believe it is affecting shop prices, as experts forecast it is likely to be twice as costly as Covid.

Labour said the warning underlines the need for a ‘more productive’ relationship with Brussels following Britain’s withdrawal from the EU.

EU withdrawal fuelling higher import costs and costing British workers nearly £500 a year, says Resolution Foundation.

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 Liberal Democrat leader accused the two main parties of avoiding confronting the economic impacts of Britain’s departure from the EU.

The former UK Ambassador to the EU, Ivan Rogers, explains why even Brexiteers are dismayed over Brexit.

Home-grown problems shave 0.2 per cent off UK GDP, while euro zone economy grows by the same amount.

The UK economy rediscovered a reverse gear in January as renewed coronavirus lockdowns knocked output while trade suffered a Brexit hit, according to official figures.

Center for European Reform says departing the EU single market reduced investment by 11 per cent and goods trade by seven per cent in the second quarter of 2022.

Manabu Tamaru is shorting UK bond futures on expectations the nation will continue paying a hefty inflationary price for its divorce from the European Union.

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

The five key metrics are not pointing to anything good.

Slashing tariffs to zero on the majority of UK imports in the event of a no-deal Brexit will be a “sledgehammer for the economy” and deliver a widespread shock across the country, business groups have warned.

Exporters forced to fill in 48 million customs declarations and 140,000 health certificates over eight-month period.

Cross-border tax complexities cost the UK economy £47.6bn in lost revenue last year, an average revenue loss of 16 per cent on total EU exports, according to fresh industry data shared with City A.M. this morning.

Research released today (19 October 2022) by the ESRI shows reductions in UK to EU goods trade by 16% and trade from the EU to UK by 20% relative to the scenario in which Brexit had not occurred.

Brexit reduces the UK’s overall output by 4% compared to if the country had remained in the EU, an expert has said.

Public opinion shifted against Brexit after a deluge of damning evidence on economic costs.

A slew of UK economic forecasts depending on a Withdrawal Agreement, or a No Deal Brexit. How are the numbers looking for UK PM Theresa May in the House of Commons for that crucial vote on December 11? And what does Norway Plus mean?

Stockpiling ahead of Brexit was one of the main reasons for the Scottish economy growing.

BREXIT is set to cost the UK between £2 and £4 billion in lost food exports across its first full year out of the European Union.

The capital’s service sectors will bear the brunt of a downturn, according to a study published by the Mayor of London, Sadiq Khan.

Brexit is to blame for the Dover travel misery blighting Britons’ Easter holiday trips to the Continent, a senior Tory MP said on Monday.

Mark Carney says there is ‘no joy’ in laying this out as ‘people are having to live with that reality’.

Disruption at Dover blamed for hit to UK supply chains.

Damage will be four times greater than hit to EU, study says - after Boris Johnson refused to carry out his own.

Business chiefs and economists say huge disruption lies ahead if Downing Street triggers Article 16.

Every now and then there are weeks when Brexit issues surge back to the foreground, and this has been one of them.

Brexit is fuelling Britain's cost of living crisis, according to the former Deputy Governor at the Bank of England Sir Charlie Bean. / Interviewed by BBC Radio 4 on Thursday, the economist said inflation appeared to be "worse" in Britain compared to other European countries.

SINCE the EU referendum in 2016, there have been largely negative effects to the UK services trade, according to new research.

The former chancellor said Vote Leave misled people by saying the UK would be better off in financial terms outside of the EU.

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.

LSE report says even sectors unscathed from coronavirus crisis will be severely impacted.

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.

Former Siemens chief Juergen Maier says disruption will last at least six months even if trade deal is reached

Three years on, we are covered in the scars of what it has done to this country.

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.

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.

From the outside, nothing much has changed yet. From the inside, however, the UK has undergone a radical and at times ugly transformation. The June 2016 referendum has helped set off a chain of events that has impacted many aspects of life in the country.

Every negative consequence of Brexit for the UK and the clear advantage for the EU is alerting the British public to the realities of Boris Johnson’s deal. As investment slows and jobs go elsewhere there will only be one person to blame – Boris Johnson.

5.2% GDP shortfall ‘mostly’ down to Britain’s exit from EU, according to top think tank.

Former Bank of England policy maker Michael Saunders said Britain’s exit from the European Union one of the reasons why the UK is now entering a period of austerity.

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.

Brexit will be more harmful for the UK’s economy than Covid-19, the official public finance forecaster predicted.

Brexiters are often accused of living in the past. That is manifest in the now recurring Brexiter response to concerns about Brexit: ‘but we did perfectly well before’.

31 January marks the two-year anniversary of the UK’s official withdrawal from the EU. Investment Monitor examines how hard Brexit has hit the UK economy so far.

THE UK is set to see a sharp slowdown in economic growth as mounting supply chain crisis and staff shortages, largely blamed on Brexit, threaten to derail Britain’s recovery, according to a major business group.

Six years after the UK voted to leave the EU, and two years since we officially left the trading bloc, Brexit has reared its head yet again this week.

Steady ‘erosion’ in support for Brexit amid economic gloom, says Prof John Curtice.

In this week's Brexit downsides, extra food labelling costing up to £250mn, a huge drop in overseas students, veterinary shortages in NI, and more.

The stock exchange ‘going down the gurgler’, a ‘hammer blow’ to the food industry, married Britons punished, and some rare Brexit upsides

Your weekly update from the Brexit ‘downside bunker’, chronicling the downsides, and occasional upsides, of Brexit.

The British economy is beginning to understand what it is to be tipped over the cliff edge. Cries of alarm and distress flares are going up across the length and breadth of the country, and from industries as diverse as fishing and finance and from pigs to paint.

Northern Ireland will be the UK regional economy least impacted by Brexit, partially due to the NI Protocol, new analysis has suggested.

Six years after the referendum on June 23, 2016, if we put aside the profound political consequences – a divided England, Scotland and Northern Ireland pulling away, a more isolated country – what is the economic toll?

Twelve months since the trade deal with which Britain left the European Union, what impact has it had on the economy? Covid makes it impossible to be sure, but it's much harder to spot Brexit benefits than costs.

So how is it going? In economic terms, the past year has helped differentiate the impact of Covid from the impact of Brexit. / Doing so has exposed a hefty price being paid by many firms, as well as public service employment, for dislocation of Britain from its nearest neighbour's trading bloc.

This is your gentle reminder that in five weeks the economy will go into full cardiac arrest. It will be the worst economic disaster in modern British history. The country will seize up in the short term and decay in the long term. Jobs and lives will be destroyed overnight.

The economy is 4 per cent lower than if the UK had remained in the European Union, the chairman of the Office for Budget Responsibility (OBR) has said.

FT economics editor Chris Giles explains the assumptions behind post-Brexit scenarios from the UK government and Bank of England suggesting citizens will be thousands of pounds worse off than if the UK had stayed in the EU.

The costs of Brexit are growing, and that dividend is still elusive. / As Britain’s negotiations to leave the European Union enter their crunch moment, let’s be clear on one thing: The EU doesn’t need to punish Britain for leaving; the referendum did that just fine.

Boris Johnson probably wouldn’t have won many votes if he had campaigned on a slogan of ‘Brexit will make Ireland richer’, but that is precisely what his “oven ready” deal has done by making Britain less attractive to investment and less competitive in trade.

The UK will be stuck with searing inflation for years because of Brexit, according to strategists at Wall Street’s top banks.

Wages are worth less as direct result of departure from EU, says Monetary Policy Committe member. / Brexit has added 6 per cent to UK food prices, a Bank of England official has said as inflation hit a 41-year high.

The consequences of ending the free movement of people between Britain and the EU are becoming painfully clear.

Credit ratings agency Standard and Poor suggested that since the June 2016 vote, 3% has been shaved off GDP. That equates to ‘foregone economic activity’ of £6.6billion in each of the 10 quarters since the referendum, or £66 billion, the agency said.

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.

GDP shows negative growth for first time in nearly 7 years.

Britain led the first industrial revolution, but Europe will lead the next.

Brexit is a Tory invention and pro-Europeans must still fight the prospect of EU exile, writes Will Hutton.

The UK debate about Brexit’s impact on the economy has ranged from non-existent to unserious. Labour is avoiding the subject, to try to regain lost voters in pro-Brexit constituencies, and the government immediately changes the subject to vaccines or free trade deals.

Britain’s exit from the European Union will cost the bloc around 0.5% of economic growth over the next 24 months, but Brexit will be more than four times more painful for the United Kingdom, the European Commission said on Thursday.

Businesses will have to adjust to new trading conditions in the middle of a pandemic.

HSBC, Barclays, Lloyds and NatWest have strong capital buffers but their exposure to U.K. consumers and Brexit is taking a heavy toll.

Boris Johnson’s government faces deep economic problems. / UK lagging behind major peers on productivity and investment. / “... From a 16% devaluation of the pound to an eye-watering slide in trade and investment, Brexit’s impact is plain to see. The data have only reinforced our view that life outside of the EU would leave the UK worse off.”

With its economy in tatters, England is not having its finest hour. It is a time of transition for the United Kingdom... /

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.

The announcement that British Steel is to enter insolvency is the latest example of how uncertainty over Brexit is threatening livelihoods across the country. This does not just affect the 5,000 workers at Scunthorpe, but also a support staff of 20,000 across the whole supply chain. / Sadly, many other firms face the same danger ...

As evidence mounts of the long-term harm being inflicted on the U.K. economy by Brexit, the government is coming under pressure to acknowledge the elephant in the room.

‘Prepare for the worst’ EU officials tell business after Sajid Javid’s FT interview.

The clip was filmed in 2018 as part of a three-part documentary on the US embassy called Inside the American Embassy.

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

Sky's Paul Kelso, at the CBI's annual conference, says there is a clear message that Brexit isn't working for business and the government is failing to deliver policies that will help growth recover.

CBI appeals to Tory MPs to shift position to avoid a no-deal Brexit, or risk further harm to the economy.

A North East business leader who wrote to the Prime Minister a fortnight ago asking him to tackle problems caused by Brexit said he is yet to receive a reply.

"The UK chose Brexit in a referendum, but the government then chose a particularly hard form of Brexit, which maximized the economic cost."

An Ipsos poll suggests that most people think Brexit is going worse than expected.

The idea of Brexit as a force for reordering British society expired with Boris Johnson’s resignation speech, Peter Thal Larsen says.

Treasury silent on damage being caused by Brexit to Britain’s economy and Bank of England accused of being reluctant to talk about it.

Former Bank of England governor Mark Carney has doubled down on his claims Brexit has taken a toll on the pound and sparked higher inflation.

Industry group and union body join forces to demand Theresa May changes approach. / Britain’s foremost trade union body and industry lobby group have joined forces to demand Theresa May urgently changes her approach to Brexit, warning the country now faces a national emergency.

Carolyn Fairbairn says the UK economy is in ‘suspended animation’ while issue remain unresolved.

Any form of Brexit will be damaging for the Republic, the Governor of the Central Bank has said.

The Central Bank has warned that a no-deal Brexit could reduce the growth rate of the Irish economy by up to 4% this year.

The UK economy is 2.5 per cent smaller as a result of the vote to leave the EU. John Springford talks to Beth Oppenheim about his latest analysis, how he has refined his modelling method and the implications of the findings.

The UK economy is around 2 per cent smaller as a result of the vote to leave the EU. John Springford speaks to Sophia Besch about his analysis, his modelling method and the implications of the result.

New analysis by the CER – which we will update quarterly – estimates that the UK economy is 2.1 per cent smaller as a result of the vote to leave the EU. The knock-on hit to the public finances is now £23 billion per annum – or £440 million a week.

Treasury committee head suggests it means ‘existing analysis stands’ – of a £130bn hit from loss of frictionless trade with EU.

Talks between Tories and Labour have collapsed and the focus at Westminster remains inward. / It hasn’t gone away, you know. Brexit has been on a bit of a media break over the last month or two since EU leaders agreed to extend the UK’s departure until October 30th, while leaving the option open of an earlier date.

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.

It comes after Rishi Sunak reiterated his commitment to Brexit, amid reports the government could be seeking a closer "Swiss-style" deal with the EU.

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."

The United Kingdom has passed the point of no return. It has less than six months to reach a new trade deal with the European Union or risk heaping more pressure on companies that are already laying off tens of thousands of workers because of the coronavirus pandemic.

BREXIT secretary Michael Russell says failing to halt the exit from the EU during the coronavirus pandemic will leave the UK facing an “economic Stone Age” while the rest of Europe recovers.

Had we stayed in the EU, the UK’s tottering economy would’ve stood a chance in the post-lockdown world. Along with the virus, the aftershocks of poor leadership will keep us reeling for generations.

The costs of Brexit continue to mount - and they dwarf what Boris Johnson has set aside for "levelling up" in the regions.

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.

As the pandemic recedes, the negative impacts of Brexit will become clearer and its political effects more unpredictable.

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

The harm done to Scotland’s economy, trade, population, education and governance by Brexit is becoming increasingly clear, a new paper finds.

Brexit and its “devastating” impact on supply chains, especially for food, sets the UK apart from "every other country", a leading economist has declared.

The UK looks set for a recession and a longer battle with inflation than many of its neighbours. This is why.

The Brexit debate deserves so much better than Economists for Free Trade’s latest offering. Their paper, championed by Jacob Rees-Mogg, tries to make the case for leaving the EU without a deal and trading under World Trade Organization rules.

In this week's update from ‘downside bunker’, more evidence emerges that Britain has effectively declared a trade war on itself.

uthorities fear that new border checks introduced following a no-deal Brexit will slow down traffic through the nearby port of Cairnryan

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.

Early signs of disruption caused by the UK's departure from the European Union are emerging in economic data.

Last update before Thursday's election reveals flat growth in the UK's GDP for October and the last quarter

THE economic impact of Brexit and food checks at the Irish Sea border will be examined by a new commission made up of business leaders, MPs and economists.

"The need for tax rises and spending cuts wouldn't be there if Brexit hadn't reduced the economy's potential output so much."

Experts from the Institute for Fiscal Studies, the Resolution Foundation and others agreed Kwasi Kwarteng’s unfunded tax cuts played a role.

A Brexit involving staying in the customs union would leave the UK £80bn worse off a year than if it had remained in the EU, a report says. / The National Institute of Economic and Social Research (NIESR) said tax income would fall by £13bn a year.

Latest no-deal notice forecasts Northern Ireland to be hit hard and food prices likely to rise.

70,000 city jobs in at-risk sectors.

There's little talk of reversing the decision, but evidence of Brexit-induced harm is piling up.

An exclusive poll for i shows that firms feel the Government had not done enough to support them through Brexit.

Manufacturers warn of ‘devastating price war’ on consumers if tariffs are enforced in 2024.

A new report from the Economic and Social Research Institute (ESRI) shows that trade between the UK and the EU has declined since Brexit.

EU confidence that the UK would come out far worse is bad news for Tory leadership candidates planning brinkmanship. / EU officials are working on the basis that the UK’s economy will be hit up to 10 times as hard by a no-deal Brexit than the UK, the latest analysis by the European Commission shows.

The European Parliament has commissioned dozens of impact assessments or studies on Brexit from experts, across a broad range of policy areas, which are publicly available online. This webpage will be regularly updated to include further relevant publications.

The European Commission said on Monday it had approved a 50 billion pound British “umbrella” scheme to support companies affected by coronavirus outbreak.

It comes as the bloc committed €5 billion to protect its member states from adverse economic effects caused by Britain's split.

European Union Trade Commissioner Phil Hogan said the U.K. will have “full responsibility” for any damage to the British economy after the post-Brexit transition expires...

Budget chief linked £39bn divorce bill to UK retaining beneficial relationship with bloc. / A UK government led by Boris Johnson could not be dragged through the courts if it refused to pay the country’s multibillion-pound Brexit bill, the EU’s German budget chief has admitted, but Britain’s economy, security and universities would be made to suffer.

European Commission vice-president says Brussels wants to get ‘Brexit done’ – while London refuses to talk about Northern Ireland.

When the most anti-EU newspapers are pointing to the policy’s inevitable failures, it’s time our government admitted the truth.

The prime minister’s exit not only disgraces him and his party – it indicts the fast-unravelling project that brought him to No 10.

Former Bank of England governor, Mark Carney said that the fall in the pound and shrinking economy after the UK left the European Union, Brexit, had added to “inflationary pressure”.

David Gauke warns of 'an unnecessarily high economic price' - while Amber Rudd highlights less 'support for the economy' than Theresa May's doomed deal.

THE former CEO of Sainsbury’s has been clear about what initially caused the cost of living crisis – telling Sky News that Brexit is to blame.

Former Conservative Party chairman says on BBC Question "this is a word one isn’t supposed to use anymore" in attack on UK's problems.

We may have had enough of experts, or Michael Gove has at least, but one has just explained how disastrous Brexit has been and makes a compelling case.

BREXIT-related factors are still being flagged by UK companies as a cause of lost business from overseas, a senior economist has declared.

What do the experts say about Brexit? How would Britain's place in the world change if we voted to leave Europe? Here's independent Oxford University economist Professor Sir Paul Collier from the Blavatnik School of Government talking about the risks of Brexit.

Fall of 40.7% comes as UK economy in January shrinks by most since first wave of Covid pandemic.

After a February meeting between U.K. Prime Minister Theresa May and 19 Japanese business chiefs, Tokyo’s ambassador to Britain warned what might happen if Brexit took an unfavorable turn for foreign investors.

THE CLAIM: "Any country joining the European Union must have a fiscal deficit at 3% or below. With the Scottish deficit at almost 8% the SNP must outline how Scotland could join the European Union as an independent country."

John Cole explores the government's response to a petition calling for an enquiry into the impact of Brexit before it's debated in parliament.

Boris Johnson, the front-runner to be Britain’s next prime minister, has raised the prospect of a shock for the world’s fifth-biggest economy by pledging to leave the European Union on Oct. 31 without a transition deal if necessary.

Accountancy firm warns of stalled economic recovery without EU trade agreement.

We would like to state in clear terms that any material change that results in less beneficial import/export access to the European market could be potentially catastrophic for the Falkland Islands’ economy and people.

... a cross-party report on the UK's membership of the European Union (EU) in advance of the UK referendum on 23 June. This revealed that the Falkland Islands Government (FIG) had submitted a paper raising concerns about the negative implications for the Falkland Islands' economy and people of a UK withdrawal from the EU.

The UK has experienced a sharp slowdown in income growth while inflation has risen, warns the Resolution Foundation think tank.

Brexit remains mired in fantasy and nothing will change until somebody manages to make connections to economic reality.

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."

Firms are "banging their heads against the wall" two years after post-Brexit trading began, a new report suggests. / The British Chambers of Commerce (BCC) said businesses were still grappling with EU trading arrangements and more red tape.

Early signs of disruption caused by Britain’s shift to its new, less open trading relationship with the European Union are emerging in economic data.

Fisheries is such a major issue in the UK-EU negotiations and a trade deal could be scuppered if an agreement is not reached between the two sides, a new academic report finds. / This is despite the fact that fishing represents only 0.1 per cent of UK gross value added (GVA) and for most EU member states, fishing amounts to 0.1% or less of their economic output.

ONS figures show GDP fell by 0.3 per cent in April, with all three main sectors suffering a fall in output for the first time since January 2021.

BREXIT could cost the economies of Wrexham and Flintshire as much as £300m a year, new research suggests.

NICOLA Sturgeon was completely unimpressed as a Tory MSP suggested Brexit has nothing to do with the Scottish Parliament during FMQs.

Scotland's food and drink industry is warning of price rises and potential shortages when new Brexit rules on imports come into force in April.

Mark Carney, who ran the central bank until March 2020, said the UK’s decision to leave the EU had devalued the pound which put upward pressure on inflation.

Britain has got poorer because of Brexit, former chancellor Philip Hammond has admitted.

Bruno Le Maire is the French opposite number to chancellor Kwasi Kwarteng.

The government is exploring a controversial further delay to post-Brexit checks on imports from the EU because of growing alarm that they will exacerbate the cost of living crisis.

As the economic harm that it has done becomes ever clearer, all but the most die-hard Tory Brexiteers are increasingly prepared to admit that Brexit was a mistake. Trade with the Europe has slumped, productivity is down, and there are 4,000 fewer European doctors working in the NHS.

"Investors have got the message. Britain is not the bet it once was." / The Bank of England was forced to step in yesterday to prevent mass insolvencies of pension funds.

Stopping Brexit will deliver a £50bn "Remain bonus" for public services over the next five years, Liberal Democrat leader Jo Swinson will say later.

The former chancellor said the Conservatives, Labour and national broadcasters "won’t talk about it", but the split with the EU is to blame.

Brexit has already cost the UK economy almost £70bn – the equivalent of £440m a week or £840 for every household in the country each year – according to a new report from the Centre for European Reform released today.

Ex-prime minister warns of “an unprecedented economic calamity precipitated by a no-deal exit from the EU”.

The Government has been accused of refusing to publish more than 50 “secret” studies in the impact of Brexit – for fear they could cause embarrassment to ministers.

Get Brexit Done’ has unravelled in a spectacular fashion; a significant knock to the economy, removal of rights and freedoms, more red tape for business and – the most heart-breaking of all – trouble has returned to Northern Ireland. The obvious answer to this foreseeable problem is for the UK to be part of the single market and customs union.

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.

Chancellor rubbishes claim by Boris Johnson ally that no-deal exit could boost economy by £80bn.

Frances O'Grady uses speech in North East to warn of effects of bad Brexit.

Economists tell us Brexit will have a substantial economic impact on our lives. But how would ordinary people experience them? Ben Chu looks at the possible impact on wages, benefits and taxes.

Economists tell us Brexit will have a substantial economic impact on our lives. But how would ordinary people experience them?

Try and find an instance of the market reacting to tax cuts anywhere else on Earth the way it reacted to the UK’s mere mention of such a simple policy. The market usually loves tax cuts. Not this time. Why?

Food prices are set to rocket once the UK leaves EU, according to John Glen, economist at the Chartered Institute of Procurement & Supply.

Brexit and its devastating impact on supply chains, especially for food, is what sets the UK apart from every other country.

FORMER US presidential candidate Hillary Clinton has highlighted the benefits of Northern Ireland’s access to both EU and UK markets.

In the months after Boris Johnson signed his post-Brexit trade deal with the European Union, the coronavirus masked the economic damage of leaving the bloc. As the pandemic drags on, the cost is becoming clearer -- and voters are noticing.

Following the vote to leave the EU in June 2016, economists set about forecasting what Brexit meant for the future of the British economy. But how accurate did those forecasts end up being?

Clues point to Britain’s 2016 vote as City suffers brutal losing streak.

The UK's financial crisis is the product of years spent ignoring economists and businesses.

Brexit barriers are having a significant impact on North East small and medium-sized enterprises (SMEs), hitting their exports as they struggle with regulations and red tape, a new report this week reveals. The region’s universities are another sector badly hit...

From his booklet, ‘Beyond Brexit: Liberal Politics for the Age of Identity’, Liberal Democrat leader Vince Cable explores how the UK can prosper socially and financially in the 2020s.

It is increasingly clear that Brexit is doing enormous damage to Britain’s economy. And for what, exactly?

This paper estimates how Brexit has affected goods trade between the United Kingdom and European Union. Using product-level trade flows between the EU and all other countries in the world as a comparison group, we find a sharp decline in trade from the UK to the EU and significant but smaller reductions in trade from the EU to the UK.

Under the UK’s new immigration system, migrants from the European Union face more restrictive rules than those from the rest of the world. The effects on overall migration numbers may be limited, but the skills and sectoral mix of migrants may look substantially different.

Dozens of companies have laid out plans to leave, yet the number of people jobless is at its lowest since the 1970s.

We looked at breakdowns by analysts and the government on the money spent so far, and the estimates on what is still to come.

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 average household is around £2,000 worse off. But Brexiteer politicians and much of the media are obscuring this truth.

Analysis: The UK’s revised-down Q3 figures should come as no surprise given business has been in second gear since 2016.

CPTPP member countries have a combined population of 500 million and GDP of £9 trillion. For reference, although the EU is a similar size, with a GDP of £11 trillion, the value of our total trade to the EU is much higher, at £557 billion.

Everyone can see that it is failing, but pretending it can work is a precondition for positions of authority.

Businesses in the services sectors face ‘major barriers’ despite trade agreement, a study suggests.

The admission is the starkest assessment yet of the impact of crashing out of the European Union, which both Tory leadership candidates say they are ready to do on 31 October.

Forecasts of the economic hit caused by Brexit from the UK’s budgetary watchdog are wrong, according to chancellor Jeremy Hunt.

If we are to leave the European Union we want a sensible Brexit. There’s no chance of that just now. / "Brexit has paralysed the system. It has turned Britain into a laughing stock. And it is certain to make us poorer and to lead to lower incomes and lost jobs."

Ian Blackford has urged Rishi Sunak to "admit that Brexit is a significant long-term cause of the UK economic crisis." / The Scottish National Party's Westminster leader asked when the prime minister will "finally see reality."

SNP Westminster leader Ian Blackford says Brexit is now starting to harm the UK economy. He asked if the government would negotiate an economic agreement with the EU, or if he would "wilfully push the UK into recession".

[Irish] Employers' group Ibec has warned economic growth next year could be more than halved if the UK leaves the EU without a deal.

Brexit has been an unmitigated disaster for the economy of Britain. Of course, the people responsible for it, won’t tell the truth or admit they were wrong.

The UK economy will perform worse than any major economy this year, even worse than sanctions-hit Russia.

International Monetary Fund Managing Director Christine Lagarde said Sept. 17 that leaving the European Union without a deal could hurt Britain's economy.

England’s second most populous city was revived by EU money but voted to leave the bloc, in a pattern that has become all too familiar, says Patrick Cockburn.

Current financial woes ‘bear out warnings of Remain side in EU referendum’.

Media outlets around the world have been documenting Britain’s Brexit ‘bregret’ as economic headwinds hit our shores.

Ireland has said it will demand hundreds of millions of euros from Brussels if there is a no-deal Brexit, amid growing fears Britain is set to crash out of the European Union without an agreement. / Ireland is likely to be hit particularly hard by a no-deal outcome, with the country’s farming industry heavily reliant on trade with the UK.

Bill readied amid concerns over impact on agriculture, food processing and transport.

The data suggests Britain has been severely financially hurt by Brexit but nobody in authority there seems to want to discuss it.

Irish cabinet ministers will meet on Tuesday to hear of the “dire” consequences of a no-deal Brexit on Ireland and the all-Ireland economy.

NPR's Sacha Pfeiffer talks with Financial Times political editor George Parker about the continuing effects Brexit has had on U.K. politics and the economy.

The City has been plunged into something of an existential panic in recent months. Fears of international decline have crystallised in the form of a listings drought and a crack squad of City grandees are scrambling to try and steady the ship.

A 19th Century trade agenda will decimate the most productive parts of the 21st Century economy.

Having been grossly misled in the referendum, Britons’ anger is mounting as the reality of our plight becomes clear.

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.

The cabinet minister also launched an outspoken attack on a report which said leaving the European Union had damaged the UK economy.

Japan's richest man has warned that Brexit is "practically impossible" and could take the United Kingdom back to the economic stagnation of the 1970s when the country was often described as the "sick man of Europe."

Chancellor Jeremy Hunt blamed Brexit for years of political instability, admitting that the turmoil in government undermined Britain economically.

Jeremy Hunt recognised the cost Brexit has imposed on the United Kingdom during an interview with BBC's Laura Kuenssberg. "I don't deny there are costs to a decision like Brexit, but there are also opportunities," the chancellor said.

Move threatens to collapse talks that PM has said must be completed within weeks.

DUP isolated in backing plan, which could ‘destroy economy and Good Friday agreement’