The Disaster Of Brexit - Three Years On

4th February 2023

Three years on from leaving the EU, where is Britain now?

Britain has the lowest growth rate among G7 countries and the IMF forecasts that it will be the only leading economy to shrink this year.

Although Brexit is not the only reason behind this economic underperformance, it is an important factor, having a bigger impact than forecasted on many economic indicators.

Britain's trade openness has fallen
🥊 The damage to trade has been significant
📈 The red tape faced by British businesses is at a record high
📉 Investment has been severely hit, much more so than in the EU
🤷 The freedom to make trade deals has made no difference
🕵 The benefits from regulatory autonomy remain elusive

Disentangling the forces of the pandemic, global inflationary pressures and Brexit on the British economy is not straightforward but it's clear the decision to leave the EU single market has led to new trade barriers and made the economy less open globally.

As our recent polling has shown, voters acknowledge the impacts of Brexit and overwhelmingly support a closer economic relationship with the EU. It is time for Britain's political leaders to acknowledge the pain that Brexit is causing and work with the EU to improve the trade arrangement.

Read more HERE