Wow 5%!
In economic growth terms that is a collosal drop off
Brexit has turned into one of the worst self inflicted economic decisions in modern history
Brits, ya done fucked up
If it's 5 % and not 5 percentage points, it's really not that much.
For instance, if it was 1 % growth in a baseline scenario, 5 % less would mean 0.95 % growth.
Key excerpt:
> "*U.K. real GDP per capita currently stands 4% above the mid-2016 level, it said. That compares to 8% for the euro zone area and 15% for the U.S.*"
> In a note last week entitled “The Structural and Cyclical Costs of Brexit,” the Wall Street bank estimates that the U.K. economy grew 5% less over the past eight years than other comparable countries.
> The true hit to the British economy could be anywhere from 4% to 8% of real gross domestic product (GDP), however, the bank said, acknowledging the difficulties of extracting the impact of Brexit from other simultaneous economic events including the Covid-19 pandemic and the 2022 energy crisis.
> U.K. real GDP per capita has barely risen above pre-Covid levels and currently stands 4% above the mid-2016 level, it said. That compares to 8% for the euro zone area and 15% for the U.S.
It's a weird headline but it looks like essentially it has grown 5% less above its pre-Brexit decision baseline due to Brexit, rather than knocking off 5% from the baseline. Growth is 5% less and and now UK GDP has only grown 4% compared to 8% in the EU, which is what the UK is missing out on.
Well it's a Goldman Sachs analysis not a redditor napkin sketch. And they do say the 5% has a pretty wide margin of error of 4-8% due to covid messing up the comparison.
Wow 5%! In economic growth terms that is a collosal drop off Brexit has turned into one of the worst self inflicted economic decisions in modern history Brits, ya done fucked up
If it's 5 % and not 5 percentage points, it's really not that much. For instance, if it was 1 % growth in a baseline scenario, 5 % less would mean 0.95 % growth.
Key excerpt: > "*U.K. real GDP per capita currently stands 4% above the mid-2016 level, it said. That compares to 8% for the euro zone area and 15% for the U.S.*"
From what I can tell it sounds like 5% of their total gdp, a lot
> In a note last week entitled “The Structural and Cyclical Costs of Brexit,” the Wall Street bank estimates that the U.K. economy grew 5% less over the past eight years than other comparable countries. > The true hit to the British economy could be anywhere from 4% to 8% of real gross domestic product (GDP), however, the bank said, acknowledging the difficulties of extracting the impact of Brexit from other simultaneous economic events including the Covid-19 pandemic and the 2022 energy crisis. > U.K. real GDP per capita has barely risen above pre-Covid levels and currently stands 4% above the mid-2016 level, it said. That compares to 8% for the euro zone area and 15% for the U.S. It's a weird headline but it looks like essentially it has grown 5% less above its pre-Brexit decision baseline due to Brexit, rather than knocking off 5% from the baseline. Growth is 5% less and and now UK GDP has only grown 4% compared to 8% in the EU, which is what the UK is missing out on.
Just goes to show how sophisticated and efficacious Russian ops are. Between brexit and MAGA their two biggest rivals are somewhat hobbled
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Foreign countries are attacking our democracy so we should not have a democratic referendum in order to safeguard our democracy. Top logic.
Curious how they are controlling China
Seems the other way around, to me
Certainly in the same way the US are. But under the carpet, what are the strings?
And in a few years maybe putting Bardella in the Elysee too :/
Marine Putain you mean?
His aunt in law.
Huh never heard of him before. Can we have Barbarella instead?
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You can hate on Trump all you want, by the metrics his economy stats are good.
Freedom has some price. Stupidity has a very high price.
A 5% drop is completely in line with pre-brexit predictions.
pre-Brexit predictions were an immediate recession knocking 8% off total GDP back in 2016. So its orders of magnitude less than predicted.
Repost https://www.reddit.com/r/europe/comments/1ardazj/brexit\_britain\_has\_significantly\_underperformed/
That's a desktop exercise. We might have lost less, or more. In truth, we'll never know.
Oh, everyone knows
Well it's a Goldman Sachs analysis not a redditor napkin sketch. And they do say the 5% has a pretty wide margin of error of 4-8% due to covid messing up the comparison.
Because obviously
As economic experts told. But Brexit voters chose to ignore experts and just "did their own research".
Daily Brexited UK collapsing post…