Brexit to shrink UK Economy by 6-8% by 2025, Study Finds
LONDON – A new study reveals Brexit will likely reduce the United Kingdom’s economic output by 6 to 8 percent by 2025, significantly underestimating the long-term consequences previously forecast. Initial analyses accurately predicted impacts over a five-year timeframe, but failed to account for the cumulative damage unfolding over a decade, according to the research. The findings underscore growing concerns about the sustained economic strain following the UK’s departure from the european Union and fuel renewed calls for closer ties with Europe.
The economic fallout impacts all sectors of the British economy and directly affects households grappling with a cost of living crisis. The study’s conclusions arrive as the UK faces record taxation and escalating bills, prompting opposition leaders to sharply criticize promises made during the Brexit campaign. This analysis is critical for businesses, policymakers, and citizens seeking to understand the full scope of Brexit’s economic repercussions and navigate the challenges ahead.
liberal Democrats leader Ed Davey contends Brexit will cost the UK £250 million per day by 2025, a stark contrast to the widely publicized claim of saving £350 million per week. Davey attributes this economic burden to the current pressures on British families and businesses.
To address these challenges, the Liberal Democrats are advocating for a reconciliation with Europe, specifically proposing a customs union with the EU.A parliamentary vote on this proposal is scheduled for next month.
