The Barmy Army Of Barmy Brexiteers.
News1 min ago
Brexit Not Damaged Uk To Eu Trade
Perhaps the doom monger remainers should be aware that trade between the EU and UK has not suffered because of Brexit.
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Hmmm.
A report from the Institute of Economic Affairs, which isn't exactly noted for its political independence nor for its independence from big business interests (such as the tobacco, alcohol, gambling and fossil fuel industries) being quoted in the politically-biased Daily Wail. So nothing to worry about there then, clearly!
The IEA also a body which, for well over a decade, refused to accept the scientific evidence for climate change and which repeatedly published reports (which just happened to be in the interests of the businesses which fund it) toally denying climate change issues.
Despite its impressive-sounding name, the Institute for Economic Affairs is far from being politically neutral. For some meaningful facts and figures, see the website of the Office for Budget Responsibility (which, despite being a Government body, is committed to neutrality within its reports):
https:/
'Between 1999 and 2007, the EU accounted for 50-55% of UK exports. By 2022, this figure had fallen to 42%'
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Between 1999 and 2007, the EU accounted for 50-55% of UK exports. By 2022, this figure had fallen to 42%'
Indeed. But in fact it fell from a high of 54% in 2006 to a low of 42% in 2015 - a year before the referenedum. It recovered slightly to 44% before the pandemic, but has now reduced back to about 42%.
The percentage of UK exports going to the EU had been falling steadlily long before Brexit and it is disingenuous to blame the reduction on the UK's departure.
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An extract from the report which confirms that Brexit has not harmed trade.
"This makes any claims that Brexit has harmed UK trade with the EU look 'absurd', Ms McBride argued.
She added: 'While the data is still emerging and longer-term effects are as-yet unknowable, there has been no real disparity between UK trade with EU and non-EU countries."
Having looked further at that report from the Institute of Economic Affairs; it states that the increase in exports (from the UK to the EU [2019 – 2022]) increased by 13.4%, but this figure does not take into account inflation.
With inflation taken into account, that increase in trade becomes a decrease of 7.2% (as stated in the same report).
So we have now reached the point where Brexiteers are celebrating the failings of Brexit as a success.
With inflation taken into account, that increase in trade becomes a decrease of 7.2% (as stated in the same report).
The authors must have gone to a different school to me (or at least were taught a different version of arithmetic).
Inflation between 2019 and 2022 was 12.8%:
https:/
This means that if a company exported £1,000 worth of goods in 2019 the same goods would have a value of £1,128 in 2022. If they exported (by value) 13.4% more they would have exported £1,134 worth of goods, so slightly more than in 2019.
Moving on a little, does the report mention whether, alongside the (alleged) decrease of exports to the EU, there was a concomitant increase in exports to elsewhere? A number of companies, tired of the shenanigans displayed by the EU in furtherance of its protectionist attitude, have sought out new markets outside Europe. Some have even taken to selling more more of their goods within the UK, thus improving the country’s balance of payments.
So we have now reached the point where Brexiteers are celebrating the failings of Brexit as a success.
It’s possible to produce all sorts of data and cite different reports to support whatever argument one is making (see above). You continually mention “exports”, “GDP” and “the economy” almost to the exclusion of everything else. Have you ever thought about the other reasons why it’s not such a good idea to have remained in the EU? Please don’t ask me what they are because they have been pointed out to you many times. But the one undeniable and irrefutable benefit of Brexit is that the UK is no longer a member of the EU. As you may also recall, I’ve stated many times that for me, that is all the thing that I celebrate most of all.
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