pellinore Posted December 21, 2022 #1 Share Posted December 21, 2022 (edited) So now we know. Brexit is proving even worse for the UK economy than the official forecast of a 4 per cent hit to GDP over 15 years. It’s already reached 5.5 per cent, according to a study by the Centre for European Reform (CER) think tank. Significantly, a disappearing Covid effect no longer masks the damage of leaving the EU. John Springford, the CER’s deputy director, said it was now clear that the difference between Britain’s sluggish performance compared to similar economies was down to Brexit rather than the pandemic. The CER calculates that Brexit is costing the government £40bn a year in lost revenue, which on ministers’ own figures would allow them to give all public sector workers an inflation-linked pay rise instead of a real-terms cut and still have £12bn to spare. The think tank also cites a very clear Brexit effect on business investment, which hits productivity and therefore the politicians’ holy grail of growth. Both the Tory and Labour leaders say one thing about Brexit in public and do another in private. Behind closed doors, they now recognise the damage is irrefutable but cannot spell it out in public – Sunak because he was a Leaver and cannot admit Brexit was a mistake, Starmer because he thought it was a mistake all along but doesn’t want to remind Leave supporters whose votes he needs. Voices: The Tories and Labour are saying one thing on Brexit and doing another (msn.com) Edited December 21, 2022 by pellinore Link to comment Share on other sites More sharing options...
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