What has been the impact of Brexit on the UK economy?

Abstract

What has been the impact of Brexit on the UK economy? Sarah Hall, University of Nottingham, considers the economic impacts of COVID-19 and the war in Ukraine from Brexit, which is critical if the economic impacts of the UK's new trading arrangements with the EU and the rest of the world are to be fully understood. There have been negative impacts on trade which can be largely separated from the impacts of COVID-19 and the War on Ukraine. Crucially, the devil is in the detail with such changes varying significantly by economic sector and by location in the UK. Whilst Brexit is only in its early stages economically, it is clear that its impacts are sectorally and regionally variegated. Explaining that examining some of these research highlights provides a valuable starting point for understanding the impact of Brexit on the UK economy, taken together, Hall's analysis suggests that the early economic impacts of Brexit on the UK economy do not neatly follow the estimates made by economists immediately following the referendum.