There is remarkable agreement on the Brexit disadvantages – if not disasters – from both commerce and also the FT, who say:
The UK is lagging behind the rest of the G7 in terms of trade recovery after the pandemic; business investment, seen by Johnson and Sunak as the panacea to a poor growth rate, trails other industrialised countries, in spite of lavish Treasury tax breaks to try to drive it up. Next year, according to the OECD think-tank, the UK will have the lowest growth in the G20, apart from sanctioned Russia.
and they also say:
That level of decline, worth about £100bn a year in lost output, would result in lost revenues for the Treasury of roughly £40bn a year. That is £40bn that might have been available to the beleaguered Johnson for the radical tax cuts demanded by the Tory right — the equivalent of 6p off the 20p in the pound basic rate of income tax.
So even in Tory Economic Brexit terms, it is a loss.
Notable too is, as EasyJet says, they cannot obtain the skilled labour they require… (incidentally supporting the view that resources and not money are the thing that is actually important) because under post Brexit immigration rules they cannot recruit that resource of skilled labour.
This goes to the key of why UK flying problems are worse than everywhere else.
Most of these staff left, voluntarily or not, during Covid. Many might have expected to return. But of course the Tories had a wizard plan to disguise the disaster of Brexit by combining it with the Covid regulations.
Now they are discovering it is not so smart because these same staff are prevented, post Brexit, from returning – and, now none of their compatriots can be recruited.
Indeed it is pretty obvious that a smaller skilled workforce leads to a drop in investment. ‘Global’ companies are naturally reluctant to invest in an area that has become so small – and set up instead in countries with a larger skilled workforce and also the maximum possible access to it – wherever its original origin…
Latvia and others – it transpires..
Indeed many airlines are, according to the Times, hiring EU aircraft and staff:
A smaller workforce overall means in the end, a lower GDP – no wonder the recession – and also the industrial investment is worse in the UK.
If this is true this is extraordinarily short sited – but I’m not actually convinced it is – although the linked article is actually worth reading, it seems to me it may be kite flying à la Tory Party…
Rather similarly, Stella Creasy, in the same way as Tobias Ellwood has previously, (and in my view, rightly) suggests, that neither Conservative nor Labour can make people’s lives better until they dare to start talking about Brexit.
Disregarding it has, I suggest, not unsurprisingly, not worked…
Starmer surely realises that..
He could point out, for example, that immigration is just as high, if not higher, as it ever was – but the immigrants are just not from the EU any longer.
UK GDP growth (which I realise is a crude measure) but is the lowest in the G7, while inflation is the highest.
Brexit has saddled us with an inflation producing, declining pound, an inability to export much to our neighbours and lots of unnecessary ‘red tape’.
Perhaps Starmer could ask what the Brexit advantages are so far? and might it be time for his own red tape challenge?
And incidentally, while the Tories try to brand the rail strike as the ‘Labour’ rail strike, Starmer could try and rebrand it instead as the ‘Brexit’ rail strike – because the RMT were, inexplicably, Brexit supporters…