Disaster of Brexit is a warning against simple solutions to hard problems | Richard Partington

Alan Milburn argued that easy solutions are impossible and that problems built over decades cannot be fixed by a single tax U-turn. His remarks came at the launch of a review into Britain’s youth worklessness crisis. The timing coincided with the 10th anniversary of Brexit, framed as a populist silver-bullet that imposed permanent negative economic costs. A Stanford economist’s NBER-linked analysis estimated UK GDP per head is up to 8% lower than under a Remain scenario. Political uncertainty after the vote froze business investment, weakened trade, and stalled the economy. Investment is close to 18% lower than under Remain, employment is up to 4% lower, and productivity is up to 4% lower.

Read at www.theguardian.com