CER modelling finds Brexit significantly reduced UK-EU trade; customs union alone insufficient to recover losses

Summary

A CER modelling exercise a decade after the 2016 Brexit referendum shows that leaving the EU's customs union and single market has substantially reduced UK trade with the EU, both in goods and services. The analysis suggests that simply rejoining a customs union would do little to recover those losses. The article notes that British politicians, particularly on the centre-left, have become more vocal about Brexit's economic costs, with Prime Minister Keir Starmer acknowledging the "deep damage" done to the economy.

Source

bskyCER modelling finds Brexit significantly reduced UK-EU trade; customs union alone insufficient to recover lossesbuff.ly