The economic data speaks for itself. Political destruction and the loss of international credibility of the United Kingdomalso. Six years after the British voted in favor of Brexit, and two years after its entry into force, the country “is about to get sick Europe “, according to the diagnosis of Guy handsa financial benefactor of the Conservative party which this week called for a change of course to stop the slope speed of the nation. Attempts to disguise the damage of Brexit, citing covid-19 and the war in Ukraine, no longer work. Other countries face similar circumstances, but the UK is the only one in the group of G7 powers with zero growth. It’s time to talk about Brexit again.
The departure from Europe could have been done in many ways, some easier than others. Successive conservative governments, Theresa May, Boris Johnson y Liz Truss They have progressively tilted towards the more extreme version. The latest firework of that ideology blind to the reality of the markets was the Truss plan. “The mini-budget was the culmination of the economic policies that were established after the Brexit vote”, explains Peter Foster, head of public policy at the Financial Times.
Loss of business and economic momentum of the UK is obvious. According to the Peterson Institute in Washington, British exports fell by 6% after Brexit, while those of a country like them Italy increased by 13%, and that trend is continuing right now, with the UK just about to join recession. Since that 2016 referendum, the ctrade between the UK and the The European Union is down 16% from what was expected had Brexit not taken place. By contrast, commercial transactions from the EU fell even more, by 20%, over the same period.
extreme version
Hands, president of Terra Firma Capital, attributes the current situation of the British economy to the obsession of a conservative sector, realizing the Brexit “dream” of “low taxes and low (social) benefits.“An extreme version of the abandonment of Europe for which the British, he argues, did not vote and which led to the country “to the disastrous state of the economy“. In his view, the ‘Tories’ must abandon the infighting and “admit that some have been committed mistakes over the past six years, which have frankly set the country on the path to becoming the sick of europe“.
Brexit affects every aspect of British life, including family budget Day by day. Dependence on imports of food and other products from the continent has helped to further increase the inflation, which already exceeds 10%. The increase in paperwork and bureaucracy, with the new obstacles at the borders, has left numerous small and medium-sized enterprises. There are obstacles to collaboration between universities and the EU has stopped recognizing many of the UK’s professional qualifications. There has also been a refinement shortage of manpower. The current Minister of Finance, Jeremy Huntsuggested it should open hands with foreign workers to stimulate the increasesomething the current Minister of the Interior is categorically against, Suella Bravermanone of the most radical ‘brexiteers’.
Restore pragmatism
Financier Jurgen Maier, vice president of Northern Powerhouse company, believes it is now “the perfect time “for the new prime minister, Rishi Sunak,” to turn the corner “and send a signal to the world that the country is about to take” the right steps to restore the reputation of pragmatism y economic stabilityMaier suggests that Sunak has the power to make the UK join the single market and customs union, a step that no one, neither the government nor the Labor opposition, is confident enough to propose. “The biggest lie was (saying) that we could replace the economic benefits of being in the most advanced free trade zone in the world, “he points out.
Brexit divided and addressed to British society. Nobody wants to analyze theirs for now harmful effects. At the same time, the UK is gradually falling behind other powers. This should force us to reconsider the possibilities of correcting the relationship with Europe.
