George Parker

Brexit’s Economic Costs Are Pushing Britain Back Toward Europe

FT journalists on Political Fix argue that, a decade on, Brexit’s costs are no longer mainly hypothetical: they cite estimates of a 4 to 8 per cent hit to GDP, weaker investment, sterling’s lasting fall and higher borrowing costs as evidence that leaving the EU reduced Britain’s economic capacity. George Parker, Katie Martin, Delphine Strauss and Stephen Bush also contend that the political damage has been to entrench grievance politics while making a return to full EU membership unlikely; the more plausible path, they say, is a slow, constrained move towards closer European ties.