Source: Fortune
Summary
It’s been 10 years since the UK voted to leave the European Union, and the results have been disappointing. Economic growth is slow, taxes are high, and public services are struggling. Business leaders who supported Brexit, like Simon Boyd, say the politicians failed to deliver on their promises. Economists point to the loss of access to the EU’s single market and the free movement of labor as major reasons for the UK’s economic woes. The car industry, which was a vocal opponent of Brexit, has seen reduced investment and increased costs. Prime Minister Keir Starmer has begun talks with the EU to rebuild a closer relationship, but has since announced his resignation.
Our Reading
The numbers tell one story.
Business leaders like Simon Boyd and Mike Hawes are frustrated with the results of Brexit. Economists say the UK’s economy is weaker than it would have been without Brexit. The car industry is hoping for a boost from international trade deals. The UK’s curry restaurants are struggling to find workers after the loss of Eastern European labor. Prime Minister Keir Starmer’s talks with the EU may be too little, too late. The UK’s economy is still adjusting to life outside the EU.
The Brexit deal kept Britain too closely tied to the EU, and that’s the real problem.
Author: Evan Null
