The damning statistics that reveal the true cost of Brexit, five years on
1 month, 3 weeks ago

The damning statistics that reveal the true cost of Brexit, five years on

The Independent  

It has been five years since Brexit “got done” – and voters and politicians alike are still counting the cost. open image in gallery Boris Johnson MP drives a sports car during the Brexit Battle Bus tour in Leeds in May 2016 The cost of Brexit is still being determined, but the government watchdog estimates that the economy will take a 15 per cent hit to trade in the long term, while experts suggest that the UK has suffered £100bn in lost output each year. The economists Ana Andrade and Dan Hanson wrote that the UK committed “an act of economic self-harm when it voted to leave the EU”, with GDP four per cent smaller than it would have been without Brexit. Specifically, the study concludes that the UK’s trade cooperation agreement, implemented in January 2021, reduced UK goods exports worldwide by 6.4 per cent due to a 13.2 per cent fall in EU exports. The study suggests that 16,400 businesses – some 14 per cent of UK exporters – stopped exporting to the EU due to Brexit trade rules.

History of this topic

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