Submission statement: a new paper from Stanford and the BoE suggests a 6-8% GDP opportunity cost over the past decade due to Brexit. It indexed the UK against the US and compared investment (12-13% lower), employment and productivity (4% lower), and other factors. While much of this was predicted for the first ~5 years post brexit, macro turmoil since then seems to have extended the impact.
qbp123 on
But god forbid anyone advocated for rejoining the EU. Seriously. Outside of the economic impact of Brexit, the fact that young people now will never experience the benefits of being a part a free movement union like the EU is a travesty.
Rejoining may not fix their economic woes, but it’s still worth doing.
SirSuicidal on
I don’t think anyone credible believes UK economy would have grown far faster than France or Germany, or have improved productivity that hasn’t recovered since 2010 financial crisis.
The biggest difference between the US and UK, is basically the US is reaping the benefits of lower energy prices compared with Europe, and a massive tech boom that simply isn’t at the same size or scale in the UK.
4 Comments
Submission statement: a new paper from Stanford and the BoE suggests a 6-8% GDP opportunity cost over the past decade due to Brexit. It indexed the UK against the US and compared investment (12-13% lower), employment and productivity (4% lower), and other factors. While much of this was predicted for the first ~5 years post brexit, macro turmoil since then seems to have extended the impact.
But god forbid anyone advocated for rejoining the EU. Seriously. Outside of the economic impact of Brexit, the fact that young people now will never experience the benefits of being a part a free movement union like the EU is a travesty.
Rejoining may not fix their economic woes, but it’s still worth doing.
I don’t think anyone credible believes UK economy would have grown far faster than France or Germany, or have improved productivity that hasn’t recovered since 2010 financial crisis.
The biggest difference between the US and UK, is basically the US is reaping the benefits of lower energy prices compared with Europe, and a massive tech boom that simply isn’t at the same size or scale in the UK.
Yowch.