Celebrating What Brexit Has Already Achieved
GDP
“Brexit could lead to recession, says Bank of England”
World Bank figures show that of the main European economies since 2016, France has grown 8.7 per cent, the UK 8.6 per cent, Germany 8.1 per cent and Italy 6.1 per cent. Of the G7 economies, the UK was the fastest growing in 2021 and 2022.
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Unemployment
The Treasury said that in the “severe shock scenario” unemployment would rise by 820,000.
The CBI estimate was that nearly a million jobs would be lost.
The TUC and the Lib Dems claimed that three million jobs depended on our EU membership.
At the time of the referendum in June 2016, there were 31.76 million people employed and an unemployment rate of 4.9 per cent.
Today, we have 33.05 million people working and an unemployment rate of 3.7 per cent, despite a global pandemic.
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Investment
Investment was predicted to collapse.
However, the UK ranks highest in Europe for new investment projects and continues to deliver more total jobs and jobs per project than Germany and France
Alison Kay, Managing Partner for Client Service at EY goes further, pointing out that “investment intentions are at a record high and almost half of the investors surveyed think the UK’s attractiveness will improve in the near term”.
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Exports To The EU
Scary forecasts about the effects on UK exports to the EU.
In May 2016, the month before the referendum, the UK exported £11.6 billion of goods to the EU.
Post-referendum it climbed to £14.8 billion by February 2019. After falling during the pandemic, exports continued to rise and, in fact, in July 2022 they reached £17.7 billion. This was not only the highest since Brexit, but since 1997.
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Information received from the Summer Luncheon with The Rt Hon Dr Liam Fox MP in Christchurch 15th July 2023.
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