How Brexit has made Britain poorer – in charts
Summary
Ten years after Britain voted to leave the European Union, the economy is smaller than it would have been otherwise. Trade has become harder, growth has slowed, and families are generally poorer than before the Brexit vote.Key Facts
- The immediate economic crash predicted before Brexit did not happen.
- Other global events like the Covid pandemic and wars have also affected the UK economy.
- The UK's economy is about 6-8% smaller now than it would have been without Brexit.
- The British pound dropped sharply after the Brexit vote and has not fully recovered, making imports more expensive.
- Exports to the EU, the UK’s biggest trading partner, have been negatively affected by new trade barriers.
- Business investment and productivity growth have stalled since Brexit.
- The UK is expected to have a 4% loss in national income over the next 15 years due to Brexit-related impacts.
- Families in the UK are on average thousands of pounds worse off each year because of the slower economic growth.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.