Thread: Britain outside the EU
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Old 03-01-2022, 22:34   #3718
1andrew1
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Re: Britain outside the EU
Quote:
Originally Posted by OLD BOY View Post
That’s the underlying Brexit premise.
And this is the underlying Brexit reality.

Quote:
Political uncertainty and Brexit will slow UK recovery in 2022, economists predict

Annual FT survey shows living standards will fall as inflation outpaces wages in year ahead

The UK will trail other developed countries in its economic recovery from the pandemic in 2022, with economists polled for a Financial Times survey predicting that it will be held back by political uncertainty and the lingering after-effects of Brexit.

Of almost 100 economists, a majority said that UK living standards would worsen in the year ahead, with poorer households hit hardest by soaring inflation and higher taxes...

But Paul Dales, chief UK economist at the consultancy Capital Economics, described robust growth as “a statistical mirage generated by the pandemic”. He and several others noted that the UK economy was rebounding faster because it had sunk into a deeper hole, with the level of GDP yet to recover its 2019 level.

With full customs controls coming into force in the UK in 2022, many said that Brexit would worsen pandemic-related trade frictions, with supply-chain blockages and labour shortages more persistent than in other countries, and inflationary pressures more pronounced.
https://www.ft.com/content/e8f45dc9-...2-48ebb623a5a6
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