Brexit will leave UK £300bn worse off by 2035, say economists

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Brexit is set to leave Britain’s economy £311bn worse off by the middle of the next decade, a damning new report by top economists has found. open image in gallery Mayor of London Sadiq Khan said report showed ‘Brexit isn’t working’ The economists worked to isolate the “Brexit effect” from other factors such as Covid and the Ukraine war in its modelling. “Looking ahead, we project that Brexit will continue to have an impact on the UK and London economies in the medium term.” open image in gallery A majority of voters believe Brexit has damaged the economy The Labour mayor of London said the findings showed it was “now obvious that Brexit isn’t working”. In speech at Mansion House on Thursday evening, he said: “The cost of Brexit crisis can only be solved if we take a mature approach and if we are open to improving our trading arrangements with our European neighbours.” Mr Khan – who has called for a debate on re-joining the EU single market – added: “I agree with the shadow foreign secretary, who has said we urgently need to build a closer relationship with the EU.” However, Labour has insisted it will keep Britain out of the single market and customs union if it wins power at the 2024 general election.