On the 23rd of June 2016 the UK decided to, by a slim majority (51.9%), to leave the EU.
Some six years later this comprehensive report looks back to analyse the impact.
The hit to business investment, as seen in this chart, is clear – “UK business investment fell by 0.1 per cent a quarter on average in the three years post-referendum, compared to growth of 1.7 per cent a quarter on average growth in the previous three years, and ongoing growth in other G7 countries.“
However, the universally held belief that trade with the EU would suffer, didn’t materialise. “The UK has now been trading under the terms of the TCA [Trade and Cooperation Agreement] for 18 months, and, although UK imports to the EU have fallen relative to the rest of the world, the share of goods exports to the EU remains at its pre-Brexit levels.“
