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Home Politics

Northern Ireland output mysteriously leaps to 15-year high

It contrasts starkly to figures published by the OBR concerning output elsewhere.

Jack Peat by Jack Peat
2022-07-08 09:03
in Politics
FREIGHT TRADE IRELAND BREXIT

Photo: PA

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Northern Ireland output is at a 15-year high and just 0.1 per cent below the record output level recorded in the middle of 2007, official figures from Nisra suggest.

The economy continued to grow in the first quarter of 2022, with output up by 7.8 per cent on the same period a year ago.

In mainland UK, conversely, new government analysis has shown that the split with the European Union will cost £100 billion over the long-term in lost output.

The Office for Budget Responsibility says Brexit will have a long-term effect of cutting UK GDP by a hefty 4 per cent, an estimate unchanged since early 2020.

The Financial Times says such a decline amounts to £100 billion in lost output, and £40 bilion less revenue to the Treasury a year.

Funnily, you won’t find any mention of that in this BBC report.

Related: ‘Bye, bye Boris’ song playing in the background of PM’s resignation speech is the finale we all needed

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