Brexit has damaged Britain’s competitiveness and will make us poorer | Resolution Foundation
“The research estimates that the changes in trading rules alone will reduce labour productivity by 1.3% by the end of the decade. This will contribute to weaker wage growth, with real pay set to be £470 per worker lower each year, on average, than it otherwise would have been.”
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Brexit has not had the expected effect of narrowly reducing exports to the EU, but has instead more broadly reduced how open and competitive Britain’s economy is, which will reduce productivity and wages in the decade ahead, according to new joint Resolution Foundation and LSE research published today (Wednesday). The Big Brexit – the 26th …
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