Thread: Britain outside the EU
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Old 08-11-2023, 12:55   #5584
OLD BOY
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Re: Britain outside the EU
https://iea.org.uk/media/brexit-leav...ew-iea-report/

[EXTRACT]

The UK’s trade patterns with the EU fail to show a Brexit effect, either since the referendum or the end of the transition period.

Trade continued to grow between 2016 and the conclusion of the Brexit transition in 2020, indicating that Brexit uncertainty did not reduce UK-EU exchange.

UK goods exports rose by 13.5 per cent to EU countries and 14.3 per cent to non-EU countries between 2019 and 2022, before and after Brexit. This indicates no impact of Brexit on goods trade.

UK services exports rose by 14.8 per cent to EU countries and 22.1 per cent to non-EU countries over the same period. Varying demand levels for different products across countries, rather than any consistent Brexit impact, explains this finding.

UK trade patterns compared to other G7 countries have not changed since Brexit.

Business and Trade Secretary The Rt Hon Kemi Badenoch MP will today say “As today’s excellent IEA paper, written by the economist Catherine McBride, shows – contrary to some media reports and many pre-Brexit establishment voices, the data says Brexit has not had a major impact on UK–EU trade. UK trade with EU countries has broadly moved in line with UK trade with non-EU countries,” at the launch of International Trade Week.

Brexit has not damaged Britain’s trade with the European Union (EU), according to a new report from the free market think tank the Institute of Economic Affairs.

Pause for thought…?
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