Five years ago today, the UK officially left the EU.
Before and since, the CEP has been at the forefront of assessing Brexit’s impact on UK trade and living standards.
Explore Brexit hub here ⬇ 🧵:
https://cep.lse.ac.uk/_new/our-work/topics/brexit/
#Brexit
Before and since, the CEP has been at the forefront of assessing Brexit’s impact on UK trade and living standards.
Explore Brexit hub here ⬇ 🧵:
https://cep.lse.ac.uk/_new/our-work/topics/brexit/
#Brexit
Comments
• Sterling depreciated sharply, increasing the price of imports
• This rise in inflation was equiv to £870 on the cost of living per year for the avg household
Read: https://economy2030.resolutionfoundation.org/reports/the-big-brexit/
Our most recent research finds the TCA reduced UK goods exports by 6.4% relative to what would have been expected if the UK had remained in the EU.
Read: https://cep.lse.ac.uk/pubs/download/dp2066.pdf
By March 2023, the Brexit-driven cost of food inflation was £250 per household—£6.95bn across the UK.
Read: https://cep.lse.ac.uk/pubs/download/brexit18.pdf
But as the UK continues to deviate from EU policy, due to active & passive regulatory divergence, costs for UK firms will rise
https://cep.lse.ac.uk/_NEW/PUBLICATIONS/abstract.asp?index=10634
• 'Defensive' on goods: prioritising EU market access for high-value manufacturing firms
• 'Expansive' on services: to better benefit from global services trade growth
https://economy2030.resolutionfoundation.org/reports/trading-up/