Voters take note as cost of Brexit to business and economy becomes clear

In the months after UK Prime Minster Boris Johnson signed his post-Brexit trade deal with the EU, the coronavirus masked the economic damage of leaving the bloc. As the pandemic drags on, the cost is becoming clearer — and voters are noticing.

In recent days, David Frost, Johnson’s key partner in negotiating Brexit, resigned, becoming the third Brexit minister to quit. In his resignation letter, Frost urged Johnson to use Brexit to turn the UK into “a lightly regulated, low-tax, entrepreneurial economy” but expressed dismay at the prime minister’s direction of travel, a sign that Brexit is disappointing those who saw it as a once-in-a-generation opportunity to roll back government regulation.

But the figures may be flattered by the fact the UK has delayed implementing many of its post-Brexit border controls until 2022. From January, imports from the EU will need to be immediately accompanied by a customs declaration, and food products will face extra physical inspections from the summer. “A loss of 4-5% of GDP is a big deal,” wrote John Springford, deputy director of the CER, in a research note, agreeing with the OBR’s prediction. “Governments everywhere would leap on a policy that would raise GDP by 5%.”

Ironic seeing as the voters voted for Brexit in the first place.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

UK's Truss says: nothing has changed in Brexit talks after Frost quit - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Britain’s foreign minister Liz Truss, thrust into post-Brexit talks with Brussels after the resignation of Brexit minister David Frost, said London’s position remained unchanged and the process needed to speed up in the New Year.
Источник: SABCNews - 🏆 37. / 51 Прочитайте больше »