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Seems to be going to plan doesn't it.
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Seems to be going to plan doesn't it. -
Re: Brexit again - nothing to see here...
Nothing to see here cos it’s a pay wall -
Re: Brexit again - nothing to see here...
Is it? I read the article.Originally posted by stevo View Post
Fair play, I'm a stupid phucker on times!
Imports and exports down the last 5 years, most economists pointing the reason at the B word. Decent bar chart showing the decline.Comment
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Re: Brexit again - nothing to see here...
UK trade volumes suffer record five-year decline
Drop in goods imports and exports attributed to Brexit by economists
The UK goods trade has suffered its steepest five-year fall on record, highlighting how Brexit has reduced flows both into and out of Britain, say economists.
The volume of UK goods imports and exports was 7.4 per cent smaller in 2023 than in 2018, the largest five-year decline in goods trade since comparable records began in 1997, according to FT calculations of data published by the Office for National Statistics on Friday.
The ONS reported that the volume of imports fell 7.4 per cent compared with 2022 and was down 3.8 per cent compared with 2018.
Meanwhile, exports fell 4.6 per cent year on year, with substantial drops in exports to both EU and non-EU countries. Over five years, export volumes fell 12.4 per cent.
Emily Fry, economist at the Resolution Foundation think-tank, said after years of data being affected by the pandemic and the energy price shock, the 2023 figures were a real “big sign” of the impact of Brexit.
“A clear implication of this [data] is that the new trade barriers that were put in place by Brexit are having an effect on trade,” she said.
Economists point out that the performance of the UK goods trade has been worse than that of other advanced countries.
“The UK’s weak trade performance is unusual among advanced economies,” said John Springford, deputy director of the Centre for European Reform think-tank.
He added that most countries saw an increase in goods trade after the pandemic, but “the UK did not participate in the boom thanks to the trade barriers that it imposed upon itself”.
“The obvious culprit is Brexit,” he said.
In its latest economic and fiscal outlook, the Office for Budget Responsibility, the spending watchdog, noted in 2023, UK trade intensity — exports and imports as share of the economy — was 1.7 per cent below its 2019 level, driven by poor goods performance. This contrasted with an average increase of 1.9 per cent across other G7 economies.
“This may suggest that Brexit frictions and post-pandemic disruptions have weighed more on trade in goods than on services,” the OBR concluded.
Jonathan Portes, professor of economics and public policy at King’s College London, said that while UK goods exports have performed “poorly” over recent years compared to other economies, Britain’s services exports have “grown strongly”.
But he added that it was “unclear how much of the underperformance in goods trade related to Brexit”. “Goods exports have been weak for both EU and non-EU countries — although Brexit is almost certainly partly responsible,” he said.
Springford said the weakness of UK trade with both EU and non-EU countries may have been because Britain had missed out on the strong growth of intra-EU trade in recent years. “We can infer that the UK’s goods exports to the EU would have grown more than its exports to the rest of the world if Brexit hadn’t happened,” he said.
Fry said it was “particularly concerning” to see exports of key high-value manufacturing sectors shrink after the ONS data showed the real value of chemical exports had dropped 15 per cent compared with 2018.
The data “implies that those industries aren’t performing particularly well after Brexit and that could have kind of longer term implications for poor national productivity”, she added.Comment
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Re: Brexit again - nothing to see here...
You won't be able blame everything coming down the pipeline on Brexit.Originally posted by Jordi Culé View PostComment
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Re: Brexit again - nothing to see here...
Do you ever look at the EU? It never ceases to amaze me how little supposedly pro-europeans seem to actually follow what is happening there.Originally posted by Jordi Culé View PostComment
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Re: Brexit again - nothing to see here...
Current events are a global problem involving global players.Originally posted by JamesWales View PostComment
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Re: Brexit again - nothing to see here...
Absolutely.Originally posted by Wales-Bales View Post
And yet we still get the British left hammering the British working class for voting to leave something that made our lives worse and quoting journalists and economists whose inspiration is mainly that they own second homes in the EU to hammer us more. All the whole ignoring glaring data on growth and unemployment and wages and anything else you care to mention that shows the EU is in the same boat, often sinking quicker than us.Comment
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Re: Brexit again - nothing to see here...
Don’t think he is. Just quite a bit of what has gone wrong over the past eight years.Originally posted by Wales-Bales View PostComment
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Re: Brexit again - nothing to see here...
Who are the Btitish 'left' here Jimbo?Originally posted by JamesWales View Post
The economists or the Financial Times, perhaps both or are they just commenting and reporting the facts presented before them?
As for the British 'working class' voting for Brexit, there's a number of studies on Statista documenting that they probably wouldn't vote the same way now.
There's also a number of articles detailing where dome industries who were overwhelmingly Pro Brexit think they've been conned.
Good to see your 'condescending amazement' has returned functioning. It feels like old times.
XComment
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Re: Brexit again - nothing to see here...
Remember that time I made a post including inflation + interest rates of western European countries, I'm pretty sure it was France, Germany, Portugal, Switzeland, Italy and Spain.Originally posted by JamesWales View Post
The UK performed worse than all of them. You conveniently ignored that post despite me pointing you in the right direction multiple times.
How on earth has the EU made working class lives worse?Comment
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Re: Brexit again - nothing to see here...
Originally posted by Doucas View Post
Yeah, I'm looking forward to the answer to that one!
...along, of course, with the answer to the question of how Brexit has made working class lives (or most people's lives, really) better.Comment
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Re: Brexit again - nothing to see here...
Correct me if Im wrong but aren't you rich and live in the EU? Are you best placed to say?Originally posted by Swiss Peter View Post Yeah, I'm looking forward to the answer to that one!
...along, of course, with the answer to the question of how Brexit has made working class lives (or most people's lives, really) better.
Two weeks after we left the EU covid hit. Did that not impact things?
For the record, wages are, and have risen faster here than elsewhere. All knocked out by rising house prices of course bought upon by record immigration more than anything.Comment
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Re: Brexit again - nothing to see here...
Correct me if Im wrong but aren't you fairly rich and live in the EU? Are you best placed to say?Originally posted by Swiss Peter View Post Yeah, I'm looking forward to the answer to that one!
...along, of course, with the answer to the question of how Brexit has made working class lives (or most people's lives, really) better.
Two weeks after we left the EU covid hit. Did that not impact things?
For the record, wages are, and have risen faster here than elsewhere. All knocked out by rising house prices of course bought upon by record immigration more than anything.
Most tradies are now have had a very good few years even if the country more widely hasn't.Comment
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Re: Brexit again - nothing to see here...
If you're talking about how the EU made working class lives worse in the UK, why would it be notable that COVID hit after the UK left? It's the decades before that would be relevant.Originally posted by JamesWales View PostComment
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