Brexit cost UK £27bn in lost trade in first two years, review finds
https://www.theguardian.com/politics/2024/dec/18/brexit-cost-uk-27bn-in-lost-trade-in-first-two-years-review-finds
by Low_Map4314
Brexit cost UK £27bn in lost trade in first two years, review finds
https://www.theguardian.com/politics/2024/dec/18/brexit-cost-uk-27bn-in-lost-trade-in-first-two-years-review-finds
by Low_Map4314
21 comments
In 2018 the UK transferred 15.5bn to the EU. Half of 27 is 13.5bn.
Not great, not terrible when you consider we spunked twice that on Matt Hancock’s mates rates COVID reporting scheme. A small price to pay for kneecapping ourselves diplomatically and financially so a bunch of pensioners could talk jingoistic bollocks. Shame about the lower immigration, money for the NHS, easiest trade agreements eva and everything else being a lie, but hey, blue passports.
Absolutely comical that they are trying to claim brexit caused a small reduction in imports and exports between 2020 and 2022 without any acknowledgement of the fact most of the global economy was shut down for covid for big chunks of that time period.
It would be fascinating to see how Germany and Frances imports and exports changed in the same time period but it’s probably exactly the same which would ruin the Brexit angle.
Aside from this financial crap, the UK government should go and ask people in NI how difficult life is becoming and they are becoming isolated and can’t order most things from Britain due to the complexity.
It’s less complicated to drive to ROI and collect items than it is to sit on your arse waiting for a delivery.
We lost more to ‘market uncertainty’ in the 4 years after the vote while our politicians tried to get it overturned.
“Brexit cost UK £27bn in lost trade in first two years, review finds – Despite fall in trade, LSE study says overall impact was more limited than OBR forecasters first estimated”
“more limited than OBR first estimated”
Err, yeah we could focus on how the experts saying Brexit would be bad were slightly out…
…. Or we could talk about the entire other side in the debate that insisted we’d be instantly and hugely better.
The state of this country! All because the bigots and the grifters go so frothy the moment they get called out.
God i hate this country . I thought the deep south of america was racist but we are just as fkin bad.
This fascination with fucking immigrants boils my piss .
That’d cover that 22bn black hole… Nevermind, back to the austerity 52% voted for.
Yeah but think of all the problems it solved for us…
Didn’t Truss and Kwarteng lose nearly 3x that in an afternoon? Thought it would have been worse from all the doom saying.
So that’s where that “£22bn budget black hole” came from!
/J
For all the folks who only voted for Brexit because they were laser focused on cutting down immigration, how well did that go for you?
Immigration only increased after Brexit, so even by the standards of the most hardcore Brexiteers, it was an absolute failure.
And yet we’re the ones who get called Remoaners by these idiots who sabotaged our country in the name of blind nationalism, for simply pointing out that actually the thing that anyone with a clue was saying was a bad idea turned out to be a bad idea.
“The British people are tired of experts”, ain’t that the fucking truth 🤦♂️.
Brexit is a stain on our nation that we won’t live down for decades to come. I’ve never been more embarrassed to be British in my life.
Yeah but we got all this sovereignty now though, been feeding the kids on it, got some new clothes and even paid last month’s extortionate rent with bars of sov-renty.
The EU apparently wants as a minimum:
– a youth mobility scheme (e.g. 18-30yr olds)
– continued access to British fisheries
Given Britain’s survival and performance with existing exclusions, and EU red lines regarding further access; German and French economic and political woes; the likes of Orban, Fico and increasing far right and pro-Russia politics across Europe; and Qatargate and corruption…
what is the EU offering the UK in return?
– What leverage does it have?
– What incentives is it offering?
Yes, but at least we have lots of new hospitals and immigration under control!
£27 billion? Great, let’s give it to the NHS!
Oh hang on…
Is this a £27bn reduction in trade? Because that’s very different from “cost the UK £27bn”. I can’t quickly find any calculations for how much trade affects the state budget, but it seems like it could be very little if it’s trade in things that can be made on either side of the fence.
This review doesn’t look at services, but from a quick search it seems like service exports haven’t changed much.
Considering we will no longer have to pay £10bn a year for the privilege of membership, that’s likely a financial win.
The difference is around half the size of the OBR predictions – looks like economic experts being as accurate as usual!
By the time you’re down to 5% changes in macro economic variables like total value of exports it’s dubious to even ascribe it to a particular thing.
How, for example, gave energy price shocks caused by the Ukraine War impacted British manufacturing vs German vs Italian etc.
Trying to disagregate what’s purely ‘Brexit’ from what’s ‘everything else’ when you’ve only got a 3% variance to start with is close to impossible.
Well, my dad got his blue passport, so… Worth it. Apparently.
So I make that out to be -260million a week [for the NHS.] Is that on a Bus Boris? So who is coughing up the £610 million a week to make the difference up? Is it you Mogg?
£27bn So far… it is only going to go up. What an absolute shit storm!
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