A new Financial Times film has connected the dots between the UK’s decision to leave Europe and Liz Truss’s recent disastrous ‘mini-Budget’.
The prime minister was forced to hastily sack ex-chancellor Kwasi Kwarteng after his tax-cutting raft of measures threw the markets into turmoil.
The pound reached record lows against the dollar and the Bank of England was forced to step in to ensure pension funds remained solvent.
According to the FT, the Budget can trace its origins back to Brexit.
The newspaper notes that the economic costs of Brexit were masked by the Covid-19 pandemic and the crisis in Ukraine.
But six years after the UK voted to leave, the effect has become clear.
In this film, senior FT writers and British businesspeople examine how Brexit hit the UK economy, the political conspiracy of silence, and why there has not yet been a convincing case for a ‘Brexit dividend’.
Watch it in full below:
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