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Cambridge study reveals Brexit will shrink UK economy by six per cent and signs point to further losses by 2035.
January 12, 2024 – 6:00 p.m. Brexit protest in London – Citizens raise their voices against the economic losses and uncertainties following Great Britain’s exit from the EU.
Three years after Brexit, a groundbreaking study shows that leaving the EU has already reduced the UK economy by six percent – a worrying loss of £140 billion a year, according to London Mayor Sadiq Khan.
These shock figures provide insights into the devastating economic consequences of Brexit, which go far beyond initial forecasts.
A look into the future: Cambridge Econometrics predicts further losses until 2035
The bleak outlook doesn’t end there. According to Cambridge Econometrics, Brexit could lead to a loss of ten percent of economic output by 2035.
The study, commissioned by Sadiq Khan, paints a picture of a long-term crisis that could impact all areas of the economy – from employment levels to investment.
Sadiq Khan commented on the results in clear terms: “It is now obvious that Brexit is not working.”
The harsh economic impact and rising cost of living are a slap in the face to those who had hoped for positive changes from Brexit.
The high price of leaving: £140 billion a year – A warning from Sadiq Khan.
Future of relations: Labor keeps a low profile
While the Labor Party, including Khan, is ahead in opinion polls, there is no clear statement about future relations with the EU.
With elections coming up, these questions could soon return to the political stage and influence the direction of British politics.
German Echo: DIHK confirms negative image
The German economy is also suffering from Brexit, as Volker Treier from the German Chamber of Commerce and Industry emphasizes. Exports to Britain have fallen by 14.1 percent since the 2016 vote.
A clear sign that Brexit is not only placing a heavy burden on Great Britain, but also on its trading partners.’
Conclusion: An expensive price for independence – The economic consequences of Brexit are becoming increasingly clear
The Cambridge study highlights the high costs of independence that Britain will have to bear after Brexit. The long-term consequences could mean a lasting burden on the economy and the well-being of citizens.
The political landscape faces challenges that require answers – and the clock is ticking for a sustainable economic recovery.
Also read what German emigrants value about Auslabd:
The longing for distant shores: Why more and more Germans are emigrating
A trend towards emigration to countries such as Dubai and Singapore reveals a growing dissatisfaction with life in Germany and raises questions about the values and future of democracy.
2024-01-12 21:53:35
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