Leaving the EU has reduced Britain’s GDP by up to 8pc, according to a devastating US study
The latest such assessment comes in the form of a paper from the US-based National Bureau of Economic Research (NBER). This concludes that Brexit has reduced UK GDP by 6pc to 8pc, far more than most previous estimates.
Investment is worse off by between 12pc and 18pc, employment by between 3pc and 4pc, and productivity also by between 3pc and 4pc. There have been few more devastating assessments than this.
It’s only now time?
Nigel is a POS SVR asset. Another FAFO example of fucked up nationalism and racism. If you dumb bastards want to return, you’re more than welcome to, but I do want to see any shit from UKIP and Nigel can shove off to fucking Moscow.
Same as the US voting in Trump, the warnings were there before the vote.
IMHO part of the problem was that economics was more a branch of philosophy than a science until the 1970s, but the public never got the memo when this changed.
So we get doofuses who act like their economics claims are purely a matter of opinion, not falsifiable hypotheses. Try arguing for a UBI and watch how many chalkboard economists tell you what they imagine would happen, completely ignoring all experimental results.
There was a reason Russia intelligence was pushing so hard for it
is “pc” “%”? Seems like a less clear and understandable way of saying it, why do this?
https://english.stackexchange.com/questions/607519/why-represent-percent-with-pc-rather-than#607950
It sounds like it’s mostly The Telegraph’s style guide that specifies it.
Pah! I think you’ll find we’re tired of listening to experts.
/s
I think the worst part of Brexit is not that it reduced UK GDP by a fixed amount, but that the damage is getting worse with time. Brits could probably have lived with a temporary setback followed by faster growth, but it’s becoming pretty evident that the UK has been permanently damaged and growth will lag peer economies’ for the foreseeable future.
And yet, Reform UK is looking pretty good in the polls. Make that make sense, they were the most ardent proponents of Brexit.
Because the majority that voted Brexit and still believe in it were never in it for the economics, at least not the kind backed by evidence, because in their minds the economy will get better for the average working man once all of the “foreigners” are no longer here.
And because of how loud this minority are, they’ve gotten the more gullible of the population that don’t know any better to think that it’s true, because they’ve heard it from John, Barry, Gaz and that guy on TV.
leopardsatemyface
Well, no shit!
That was one of the reasons why Putin got behind it, and made it a “success”.
Who could have seen this coming? It was totally unpredictable?
Brexit is an example of what happens when Conservatives are allowed out of the basement and allowed to dictate national policy.
haven’t “conservatives” (i use “” because they never conserve anything) ruled britisn for like…the last 50 or so years?
And isn’t that why the UK is the shittiest Western European country compared to its neighbors?
Well, there was a period in the 90s through to the early 2000s where we had a centre-left party (New Labour) running the show and mostly improving things, but then 9/11 and the Iraq war happened and the country went scurrying back to the Conservatives again.
The conspiracy nut that lives in my brain is convinced Putin’s taking control of Russia in 2000 has everything to do with every single bit of the above after “but then”.
We currently have New Labour (now just “Labour”) in charge again, but politically they smell an awful lot like the pre-Thatcherite Conservatives.
iirc putin was helped into power by the US, for promising to hunt down any remaining communists (similar story to literally every regime change the US has backed the last…50-70+ years?).
I mean, it’s been pretty clear for a while now. Side question, why use “pc” instead of “%”? A bit confusing.
Interesting to read this in the telegraph. If I recall correctly they were pro leave during the campaign leading up to the referendum.
They are pro-Tory. The Tories greatest threat right now is being eaten alive by the Reform party. Doesn’t matter if the Telegraph have to take a hit, blaming Farage not the Tories for the economy is worth it.
Yeah, that’s the significant thing for me here. Not what’s being said, but which paper is saying it.
Because they report the news and inform the public … their content just tends to have a four or five year lag compared to reality.
Will anyone learn from this? Will any of the people who were wrong lose credibility? Doubtful.
best we can do is a bailout -western government around the world, probably
