[1andrew1]

We're feeling the pinch now.

Brexit and drop in workforce harming economic recovery, says Bank governor

Britain is suffering worse economic performance than its rivals because of Brexit and a stark drop in the size of the workforce since the Covid pandemic, the governor of the Bank of England has said.

Bailey said UK GDP remained about 0.7% below its pre-Covid level, compared with much stronger recoveries in the eurozone and in the US, where he said the levels of GDP had recovered to about 2.1% and 4.2% above pre-pandemic levels.

“It’s a dramatic difference,” he said. Asked whether Brexit was contributing to the country’s underperformance, he said that “there is an effect” from leaving the EU, including a “long-run downshift” in the level of productivity.

“It’s not [an impact] we’ve been surprised by. As a public official I’m neutral on Brexit per se, but I’m not neutral in saying these are what we think are the most likely economic effects of it,” he said.

https://www.theguardian.com/business...-bank-governor