Source: Fortune
Summary
It’s been 10 years since the UK voted to leave the European Union, and the country has seen six prime ministers come and go. The latest, Keir Starmer, has announced his resignation after two years in office. The UK’s economy has suffered, with Brexit costing the country between 6% and 8% of its GDP, according to a recent study. The population is also declining, with deaths expected to outnumber births from 2026 onwards. The country faces a demographic cliff, with a shrinking tax base and a growing pension and healthcare bill.
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The numbers tell one story.
Since the Brexit vote, the UK has seen a revolving door of prime ministers, with each departure tainted by political poison. The economy has suffered, with investment, employment, and productivity all declining. The population is declining, and the country faces a demographic cliff. The Brexit bill is still adding up, with the UK’s economy smaller than it would have been without the vote. Andy Burnham is likely to become the next prime minister, but the economic consequences of Brexit will be felt for years to come.
The UK’s population decline is a ticking time bomb for its economy.
Author: Evan Null
