Leaving the EU has reduced Britain’s GDP by up to 8pc, according to a devastating US study
The latest such assessment comes in the form of a paper from the US-based National Bureau of Economic Research (NBER). This concludes that Brexit has reduced UK GDP by 6pc to 8pc, far more than most previous estimates.
Investment is worse off by between 12pc and 18pc, employment by between 3pc and 4pc, and productivity also by between 3pc and 4pc. There have been few more devastating assessments than this.
It turns out economics is still more hand wavy than substantive science. Economists like to pretend otherwise, but don’t let them fool you. After all, what kind of scientific field would conflate “the economy” with “rich people’s yachts” and just … keep on doing that … even when exposed?