{"id":417763,"date":"2025-02-03T14:42:33","date_gmt":"2025-02-03T13:42:33","guid":{"rendered":"https:\/\/www.eunews.it\/2025\/02\/03\/crescita-brexit-cinque-anni-dopo-e-flop\/"},"modified":"2025-02-03T16:05:34","modified_gmt":"2025-02-03T15:05:34","slug":"no-growth-and-less-trade-five-yeas-later-brexit-is-a-flop-for-london","status":"publish","type":"post","link":"https:\/\/www.eunews.it\/en\/2025\/02\/03\/no-growth-and-less-trade-five-yeas-later-brexit-is-a-flop-for-london\/","title":{"rendered":"No growth and less trade: Five yeas later, Brexit is a ‘flop’ for London"},"content":{"rendered":"

Brussels\u00a0-Better alone than in bad company. They must know the well-known saying even across the Channel, where people have decided to say goodbye to the European Union for a brighter future that never occurred, however. Here, the well-known saying shows its limits, summed up in the numbers also certified by the Office for Budget Responsibility, the public body funded by the British Treasury. Less growth, productivity, and trade: this is the post-Brexit UK, five years after its ‘new independence.’<\/p>\n

The OBR analysis<\/a>\u00a0certifies that having left the single market has not been an advantage. On the contrary, “\u200bexports and\u00a0imports will be about 15 percent lower in the long run than they would have been had the UK had remained in the EU.<\/strong>” This is due to costs to customs in the form of new duties and long lead times for new goods controls triggered by Brexit. Moreover, the freedom to independently determine trade policies has resulted in the inability to be truly innovative.<\/p>\n

<\/a>
David Cameron, prime minister of the United Kingdom from May 11, 2010 to July 13, 2016. He pushed for\u00a0the Brexit referendum, and\u00a0resigned following the outcome of the vote [photo: imagoeconomics]<\/figcaption><\/figure>\n

“The new trade agreements with non-EU countries will not have a material impact,<\/strong> and any effect will be gradual,” the UK Office further stressed.<\/span><\/span> “This is because the agreements concluded to date replicate (or ‘renew’) agreements from which the UK has already benefited as an EU member state.” In addition, the new EU-UK Trade and Cooperation Agreement (TCA)\u00a0that entered into force on May 1, 2021, “will reduce long-term productivity by 4 percent<\/strong> compared to remaining in the EU.”<\/span><\/span><\/span><\/p>\n

Where the UK gains from Brexit is\u00a0immigration:\u00a0estimates show that the government’s new regime could\u00a0reduce net inward migration — provided this is an advantage for the British economic and productive system. London’s <\/span><\/span><\/span>National Institute of Economic and Social Research<\/a> notes that\u00a0due to\u00a0Brexit, labor shortages have\u00a0“strained\u00a0the UK economy.” Whereas before the exit from\u00a0the EU, businesses could easily meet their labor needs through the EU’s integrated labor market, following Brexit, critical sectors such as agriculture, health care, and catering have encountered labor shortages, resulting in higher operating costs and production constraints.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new course is not taking off. Promises remain unfulfilled, and for the time being, we see only the negative effects of choice that reduces productivity by 4 percent and exports by 15 percent<\/p>\n","protected":false},"author":494,"featured_media":417716,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"0"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","subtitle":""},"jnews_primary_category":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[25707],"tags":[26684,26324,25881,25882,27637],"class_list":["post-417763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world-politics","tag-investimenti-en","tag-kingdom-united-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/417763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/users\/494"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/comments?post=417763"}],"version-history":[{"count":4,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/417763\/revisions"}],"predecessor-version":[{"id":417783,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/417763\/revisions\/417783"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/media\/417716"}],"wp:attachment":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/media?parent=417763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/categories?post=417763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/tags?post=417763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}