Whatever happened to the land of milk and honey promised by Brexiteers…
A clear majority of the British public believe that the UK economy has got worse since Brexit, according to a new poll.
After Britain cut itself off from its largest trading partner, many have seen the plight of the UK economy worsen.
According to a new survey, carried out by More in Common for campaign group Best for Britain, 71% of voters think the UK economy has worsened since 2016, compared to just 12% who think it has improved.
To make matters worse for Brexiteers, 77% say the cost of living has got worse since the UK left the EU, with a further 58% saying UK businesses face greater difficulties accessing European markets as a result of Brexit.
It comes after the boss of Goldman Sachs warned last month that Brexit had had a damaging effect on London’s status as a global financial hub, with talent leaving the country, and other European cities benefitting.
David Solomon, chairman and chief executive of the bank, said it is diverting staff away from London to rival cities such as Paris, Frankfurt and Munich, following the vote to leave the EU.
In June, it was also revealed that on the ninth anniversary of the vote to leave the European Union, the Office for Budget Responsibility’s projections in terms of the negative impact it would have on state of the public’s finances have materialised, despite pro-Brexit economists questioning its findings at the time.
The Times reported: “On the ninth anniversary of the leave vote, the OBR’s estimate of a 4 per cent loss in the UK’s long-run productivity has been borne out by declining investment and trade volumes, according to John Springford, an associate fellow at the Centre for European Reform.”
The Labour government then is correct to pursue closer ties with the EU on trade. The same More in Common survey found that a majority (54%), would be in favour of working more closely with Europe on areas like food, trade standards and defence.
Basit Mahmood is editor of Left Foot Forward
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