Like a mirage in the desert, the Brexit sunlit uplands are further away than ever.
As the FT reports:
The weak performance of UK exports and a surge in imports will add to pressure on the government over the damaging economic effects of Brexit as the official figures corroborate academic studies
showing a rupture in UK exports since the new border controls were imposed in 2021.
The data showed(opens a new window)
that the UK’s current account deficit was 8.3 per cent of gross domestic product in the first quarter of 2022, a deterioration from an average of 2.6 per cent across all the quarters of 2021.
That was the worst figure on record since quarterly balance of payments data was first published in 1955.
Can anyone point to any Brexit benefits at all?
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