A new report from the Centre for Business Prosperity at Aston University in the U.K. reveals that negative impacts of Brexit have intensified over time.

Lead author, Professor Jun Du says: “The Trade and Cooperation Agreement introduced substantial barriers and there are ongoing and marked declines in the value and variety of UK exports and imports.

Without urgent policy interventions, the UK’s economic position and place in the global market will continue to weaken.”

The authors analysed monthly import and export between the UK and the EU, from January 2017 to December 2023 and separated into pre- and post-January 2021 when the (trade) agreement came into force.

The monthly data shows a 27% drop in UK exports and a 32% decline in imports from the EU.

U.K. businesses are now facing the sharp reality of Brexit and will need a whole range of new strategies to remain competitive.

Maybe this is another case of a population being convinced to vote against their own best interest?

Poor UK.

We read that Brexit was all about European Union control
and about the UK's inability to own its own destiny
without the myriad of rules and regulations mandated
by the EU. That's why many people voted for Brexit.

Now it appears that this was a disaster - and it was
the long simmering issues
that have plagued the UK's economy that should have been
blamed and resources invested in trying to solve some
of these issues.

The idea that the UK could quickly sign up to new trade
agreements after having left the EU turned out to be
unsuccessful. . Trade packs typically take years to
negotiate even among countries with shared interests.

Time will tell what Britain does next.

A new report reveals that the UK economy is almost
140 billion pounds smaller because of Brexit:

http://london.gov.uk/new-report-reveals-uk-economy-almost-ps140billion-smaller-because-brexit#;

You can check out any time you like, but you can never leave...
Welcome to the European Union...

Hi AC

'Hotel California' great song by the Eagles, nothing to do with a "hotel" but everything to do with drug taking. Unfortunate there were those on the hard right who led the Poms up the garden path and into disaster; And I was thinkin' to myself, "This could be heaven or this could be hell"

I migrated from the UK decades ago but still have family there are visit periodically, including earlier this year. The sense of despondency and lack of direction is palpable. Brexit is a large part of the reason - its negative effects are not just economic. My mostly left-of-centre kin were cheered by Labour's election win, and Labour must surely be better than the omnishambles of the Conservatives in recent years. But I warned them to look to our own bitterly disappointing Labor government if they think a leftward shift is a panacea.

Brexit has been very bad for the country, but I fear the longer-term consequences will be even worse in terms of political, intellectual and economic isolation and diminished influence. The EU tempered some of the occasional weirdness of British politics and UK membership tempered some of the occasional weirdness of EU politics. They are both diminished by the divorce.

Hi Rhian,

"look to our own bitterly disappointing Labor government if they think a leftward shift is a panacea." That is a subjective philosophical point of view. Truthfully under the circumstances the Labor government has performed moderately well in its first term.

Hi Paul

My disappointment in Labor may be subjective, but it is not merely philosophical.

I will not forgive Labor for its handling of the Voice referendum. It turned 60% popular support before the election into a 60% “No” vote by the time of the referendum. It made two huge mistakes. The first was to weaponise the issue for partisan gain – it thought popular support for the Voice would translate to disapproval of Dutton, and so made no genuine effort to build a political consensus. No referendum in Australia has passed without bipartisan support. The second was the conduct of the campaign itself. It was spiteful (“No” advocates were portrayed as racist and/or stupid), condescending (are Australians to be lectured to by Alan Joyce on matters of conscience and constitutional law?) and evasive (refusing to provide important detail on how it would operate played into the hands of the “No” campaign). The consequences of this failure are dire and will last decades. It has set back reconciliation in many areas, not just Indigenous representation; has emboldened some racists and broken the hearts of some who have long campaigned for indigenous advancement; and means that it is likely to be decades before we have a referendum on any issue - including becoming a Republic which I’d dearly lie to see.

My other disappointments in this government are it blatant lying on the Stage 3 tax cuts (the cuts may have been a bad idea, but if so Labor should have said so before the election); its failure to deliver on other election promises on living standards (admittedly hard to deliver, but therefore similarly unwise and dishonest to promise before the election); and its attacks on the RBA for doing its job.

My growing dislike of Albanese may not be sufficient to overcome my already substantial dislike of Dutton at the next election, but the gap is closing. Fortunately, my federal MP at the moment is a moderately effective Teal, so I may not have to choose.

Meanwhile, I'll continue to warn my UK relatives to moderate their expectations.

Hi Rhian,

I don't greatly disagree with what you say, Labor gets a black mark with me on several issues. Domestically, The Voice was badly handled (btw I voted yes), housing policy is poor, but their overall fiscal policy is good, I agree with the tax cuts as Labor implemented them. Internationally, they've done well on the China front, but poorly with that pandering to US as usual. Would I sack Labor on their first term performance, no I would not.

Hi Rhian,
"Meanwhile, I'll continue to warn my UK relatives to moderate their expectations."
- I indicated to Paul a few months back that I didn't expect much from Starmer.

Hi Paul,
"Would I sack Labor on their first term performance, no I would not."
- Dumb and dumber and their shite sandwich.

If we get rid of 'dumb' we'll end up with 'dumber'
And if we then get rid of 'dumber', then the replacement for 'dumb' will also be 'dumber'.
- So it's really a no-win situation no matter which way you go.

It don't matter which half of the sandwich you choose, you're eating shite either way.

- Been a while since I listened to Hotel California, like really listened to it - those cool guitar sections.
I'm tempted to put it on.

How many ageing nativist conservatives led by Howard, Abbott, Downer; US fossil fuel Atlas Koch think tanks & nativist Tanton NGO (both at Tufton St.), and Murdoch led RW MSM thought Brexit and Trump were fantastic news?

Most, but the silence is now deafening due to their own arrogance in walking the UK down a rabbit hole, while their allies inc. Hungary's PM 'mini Putin' Orban would love a Huxit, but for EU funds and overwhelming from citizens for the EU.