The economic effects of Brexit were a major area of debate [1] during and after the referendum on UK membership of the European Union. The majority of economists believe that Brexit has harmed the UK's economy and reduced its real per capita income in the long term, and the referendum itself damaged the economy.

Jan 31, 2023 · Economists argue about how to explain that gap. Some - including the International Monetary Fund - have suggested that uncertainty surrounding Brexit, including the unsettled issue of the...

Jan 31, 2025 · The COVID-19 pandemic and Russia’s invasion of Ukraine piled on more economic disruption, and made it harder to discern the impact of Britain’s EU exit on the economy. In one key area, immigration, Brexit’s impact has been the opposite of …

Jan 31, 2025 · Five years on from the day Britain formally left the EU, BBC Verify has examined five important ways Brexit has affected Britain. Economists and analysts generally assess the impact of leaving the...

Jan 4, 2025 · Economic consequences. 1. Reducing trade with the EU: - Exports to the EU fell by 17%, imports by 23% (annual data for 2021-2023). - Exports decreased by 73.5% in the agri-food sector, and by 40-50% in the textile industry. - A loss of 5% of GDP compared to the hypothetical scenario without Brexit. 2. Inflation and the food crisis:

Jul 7, 2023 · Two-thirds of the British public think Brexit has damaged the economy, while even among Leave voters only one in five think the impact has been positive. This column looks at the evidence across three key dimensions – trade, migration and investment – as well as the overall macroeconomic impacts.

Nov 30, 2022 · Almost two years after Britain left the EU, economists have reached a consensus: Brexit has significantly worsened the country’s economic performance.

Feb 21, 2025 · Specifically, our latest economy forecast assumes that: The post-Brexit trading relationship between the UK and EU, as set out in the ‘Trade and Cooperation Agreement’ (TCA) that came into effect on 1 January 2021, will reduce long-run productivity by 4 per cent relative to remaining in the EU.

Mar 7, 2024 · Untangling the economic impacts of COVID-19 and the war in Ukraine from Brexit is critical if the economic effects of the UK’s new trading arrangements with the EU and the rest of the world are to be fully understood.

There have been many attempts to model the macroeconomic consequences of Brexit, nearly all of which find that there will be a long-term loss of GDP for the UK economy compared with the status quo projections of remaining fully in the EU and its single market.