icowden
Squire
Its only been 2yrs and we had a pandemic in that time……no way anyone can give an accurate picture of brexit, no matters what they say.
Of course they can. We weren't the only country affected by Covid. Here's a quick analysis from the Centre for European Reform:-
UK economy 'lagging far behind peers'
In June, a study by the CER's Deputy Director John Springford examined the economic cost of the UK's departure from the EU so far, setting out to disentangle it from that of COVID-19.
"Now that many advanced economies have recovered and are close to — or above — their pre-pandemic level of output, we can compare Britain’s economic performance to its peers. The results are troubling," he wrote.
Springford compared the UK's performance since Brexit with those of countries with previously similar records.
His "sobering" conclusion is that in the final quarter of 2021, GDP (gross domestic product) was 5.2% smaller, investment 13.7% lower, and goods trade 13.6% lower than what they would have been had the UK remained in the EU.
"The UK had a particularly deep recession in 2020, but it ended COVID restrictions sooner than many of its peers, thanks in part to starting its vaccination campaign early in 2021. That should have made its recovery from COVID faster than other countries, not slower," he says.
"It should trouble Labour and the Conservatives that the economy is lagging so far behind its peers."
Noting that the British finance minister is "raising taxes to their highest share of GDP since the 1960s", Springford's view is that "these tax rises would not have been needed if the UK had stayed in the EU (or in the single market and customs union)".
"It is difficult to disentangle the impacts of Brexit and COVID on the UK economy with precision. But it is hard to avoid the conclusion that Brexit has severely curtailed GDP, investment and goods trade," he concludes.