Submitted by Fatherthinger t3_zsk7iz in wallstreetbets
Brexit has cost the UK a staggering £33bn in lost trade and investment, according to a new study that found that the economic damage is even worse than previously feared.
Research by the Centre for European Reform (CER), shared with The Independent, shows that Britain’s economy is 5.5 per cent smaller than it would have been if the country had remained inside the EU.
The UK’s goods trade is 7 per cent lower and investment is 11 per cent lower than it would have been had the Remain campaign won the 2016 Brexit referendum, according to the think tank’s analysis.
“Brexit has clearly had a significant impact on the economy,” said John Springford, deputy director of the CER. “There has been a sizeable hit on trade and investment.”
Mr Springford, author of the study, added: “There is a gap between the things politicians want to say about Brexit and what the data tells us. I think it’s become impossible to argue that Brexit has not hurt the UK economy.”