Brexit explains 80% of UK inflation – and why it is here for the long run
"It really seems like Brexit has to bear a disproportionate role in explaining the inflation," Adam Posen said.
The UK is the first and so far only country to have left the EU and Brexit was and is the withdrawal of the United Kingdom (UK) from the European Union (EU) and the European Atomic Energy Community (EAEC or Euratom). The official withdrawal was at 23:00 31 January 2020 GMT (00:00 CET).
"It really seems like Brexit has to bear a disproportionate role in explaining the inflation," Adam Posen said.
The European Union implemented post-Brexit checks as soon as the withdrawal agreement came into force.
"Generally it is remarkable how smoothly the total reordering of this country's economic relations has gone."
"What a joke! A huge queue for UK passengers stretching all the way back to duty free exit…whilst the lane for EU empty," one passenger said.
The peer said the Government had faced the choice of accepting the protocol or walking away and facing, at best, a second referendum or no Brexit at all.
“The Remainers would have it that everything is going wrong but actually we are already seeing a lot of bonuses to Brexit," Peter Bone said.
A new report found that Brexit caused a six per cent spike in UK food prices.
The number of non-EU arrivals has shot up by more than 50 per cent since the UK voted to quit the EU in 2016.
“It appears the UK simply stopped selling a lot of products to smaller countries in the EU," researchers noted.
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