Brexit: One year on, the economic impact is starting to show
"After a year of Brexit, the UK economy appears to be less open or less global than it was before.
The government's official forecasters, the Office of Budget Responsibility, said the latest actual data were consistent with its forecasts from five years ago that the "trade intensity" of the UK economy could fall by 15% over a decade and a half.
The UK's key export markets are less reliant on UK goods, and the UK is less reliant on foreign goods. This is at a time when trade elsewhere in the world boomed, recovering all the losses and more in the pandemic slump."
Project 'fear' was in fact project reality...
Brexiteers of course still have their fingers in their ears and are singing 'la la la' whilst watching their unicorns fly by!
"After a year of Brexit, the UK economy appears to be less open or less global than it was before.
The government's official forecasters, the Office of Budget Responsibility, said the latest actual data were consistent with its forecasts from five years ago that the "trade intensity" of the UK economy could fall by 15% over a decade and a half.
The UK's key export markets are less reliant on UK goods, and the UK is less reliant on foreign goods. This is at a time when trade elsewhere in the world boomed, recovering all the losses and more in the pandemic slump."
Project 'fear' was in fact project reality...
Brexiteers of course still have their fingers in their ears and are singing 'la la la' whilst watching their unicorns fly by!