Brexit damaging UK growth more quickly than expected, says Bank of England

**vetran** · 2 February 2023, 16:15

The effects of Brexit on trade are now estimated to be emerging more quickly than previously assumed, and that lowers productivity somewhat.

Andrew Bailey, the governor of the Bank, said at the press conference that Brexit was one of a series of “significant economic shocks” to have affected the economy, along with Covid and the war in Ukraine. He went on:

These shocks have held back both productivity and labour supply.

HMM

**tazdevil** · 2 February 2023, 16:42

Brexit is simply the excuse for incompetence. No one knows where we would be without Brexit, probably in a worse state after ditching the pound on the back of EU euphoria, failing to control the pandemic by being denied vaccine development, struggling with the influx of economic migrants and the loss of our skilled people after joining shengen and fighting the civil war brewing due to the wholesale conversion of our governing system to better match EU federal ideals

Phew am I glad we only have to put up with our own incompetence

**vetran** · 2 February 2023, 17:57

Originally posted by tazdevil View Post

Brexit is simply the excuse for incompetence. No one knows where we would be without Brexit, probably in a worse state after ditching the pound on the back of EU euphoria, failing to control the pandemic by being denied vaccine development, struggling with the influx of economic migrants and the loss of our skilled people after joining shengen and fighting the civil war brewing due to the wholesale conversion of our governing system to better match EU federal ideals

Phew am I glad we only have to put up with our own incompetence

sadly our own incompetence is quite advanced but as you say the EU showed their true colours.

**northernladuk** · 2 February 2023, 19:19

Brexit post in General used to be a bannable offence in the good old days.

**AtW** · 2 February 2023, 19:25

Originally posted by northernladuk View Post

Brexit post in General used to be a bannable offence in the good old days.

That was before and immediately after Brexit - now it’s totally different…

**northernladuk** · 2 February 2023, 19:30

Originally posted by AtW View Post

That was before and immediately after Brexit - now it’s totally different…

So all bluff and bluster and after the event things have gone to being worse than before? So like Brexit then.

Brexit damaging UK growth more quickly than expected, says Bank of England