Link: https://www.thelondoneconomic.com/business-economics/economics/the-economic-cost-of-brexit-has-just-been-laid-bare-and-its-devastating-403099/

Crossposted from https://lemmy.world/post/43398953

I’m really not a fan of statements like “UK GDP is now 6–8 per cent smaller than it would have been by 2025.” Given how economy analysts regular just throw darts to guess, I mean ‘predict’, economic growth, this means nothing.

One casualty is certainly the UKs space capability.

https://spacenews.com/uk-launcher-orbex-files-for-administration-after-failed-funding-efforts/

Turns out being isolationist is not compatible with going to space, who would have thought?

Economy is more religion than science, I agree. Also the GDP is a terrible indicator for how well a society is doing.

The method they’ve used is pretty sound, though.

Are you saying the impact is unquantifiable?

I’m saying economic development is contributed to by so many factors that even 12-month predictions are often off by a few percent points. That, to me, makes 10-year predictions while assuming different circumstances completely untrustworthy.

I'm not fully convinced by the article either, especially the GDP figure they show. A decline in investments and employment is pretty bad though, although they don't compare those numbers to other countries :/

Good news !! the anti immigrant, married to an immigrant politician who led the Brexit charge can be the nextPM

Which goes to prove that the pain is not enough yet.