24 June 2019

The Guardian: UK finances forecast to suffer under most forms of Brexit

Most forms of Brexit will worsen the country’s finances and reduce space for new initiatives to address child poverty, social care and left-behind communities that some argue drove the Brexit vote, a report has found.

Academics at the UK in a Changing Europe thinktank found a positive outcome depended on politicians being able to move on from the Brexit impasse and focus on longer-term challenges including productivity, regional imbalances and democratic reform.

In their report, The Brexit Scorecard, they rated the success and prospect for success in areas including the economy and public finances.

“Most forms of Brexit will worsen the government’s fiscal position, probably significantly, reducing the space for new policy initiatives,” it said. “Not only has there been no end to austerity, despite some rhetorical gestures, but pressures on public services, in particular social care, education and policing, have intensified. While Brexit is not the main driver here, it has certainly not helped.”

The report said the government’s planned spending review was likely to be postponed and “the impacts of Brexit on regions and sectors are, if anything, likely to disadvantage those which are already lagging behind”.

It concluded that the opportunity to “reset” Britain, promised in the referendum three years ago, had been missed with the outlook for the economy deemed negative and prospects for taking back control of the country uncertain. [...]

Full article on The Guardian

UK in a changing Europe report: The Brexit Scorecard

© The Guardian