The Daily Telegraph, 28 January, Roger Bootle
This week we will mark the fourth anniversary of the UK’s departure from the European Union on 31 January, 2020. All the usual suspects are again pouring scorn on that momentous event and attributing many of our current ills to it. But does a sober assessment support this conclusion?
As many readers will know, I have form on this issue. I was an outspoken supporter of Brexit and, indeed, I wrote a book entitled “The Trouble with Europe”. My view has not changed since. That said, it is difficult to argue that Brexit has yet brought any large economic benefits. Indeed, both theory and evidence suggest that it has brought some net economic losses, although these are probably fairly minor.
It was always on the cards that there would be losses in the immediate future because leaving the single market made trade between ourselves and the EU more difficult, through increased paperwork and border delays. These difficulties weigh disproportionately heavily with small businesses.
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