""This decade has seen the UK economy on life-support, with some of the worst growth in a century. "There is an obvious treatment right on our doorstep, but the government refuses to administer it. Every month we delay discussing a customs union or single market access with the EU, or dynamic alignment or a proper sanitary and phytosanitary (SPS) agreement, more contracts move to Rotterdam or Düsseldorf and never come back.""
"The CER uses a similar estimate, putting the economic loss at 5% of UK GDP, or around £130 billion. (Source: CER). Estimates suggest that by 2025, Brexit had reduced UK GDP by 6% to 8%, with the impact accumulating gradually over time. "We estimate that investment was reduced by between 12% and 18%, employment by 3% to 4% and productivity by 3% to 4%." (Source: National Bureau of Economic Research)."
UK GDP rose by just 0.1% in the final quarter, matching the previous quarter. Moves are planned to pursue closer integration with the EU to reduce post‑Brexit trade barriers. Research estimates deep alignment in goods and services could increase GDP by 1.7%–2.2%, while goods alignment alone could raise GDP by 1%–1.5%. Independent forecasts warn Brexit reduced trade intensity and cut GDP by tens to hundreds of billions, with estimates ranging from about 5% to 8% of GDP lost and declines in investment, employment and productivity. Proposals include customs union, single market access, dynamic alignment and a sanitary and phytosanitary agreement to restore market access.
Read at London Business News | Londonlovesbusiness.com
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