An unmanageable Brexit, the cause of the ills of the United Kingdom

The economic data speak for themselves. The political destruction and loss of international credibility of the United Kingdom, also. Six years after the British voted in favor of Brexit, and two years after its entry into force, the country “is on its way to becoming the sick man of Europe“, according to the diagnosis of Guy Handsa financial benefactor of the Conservative Party that this week called for a change of direction to stop the slope speed of the nation. The attempts to camouflage the damage of Brexit, mentioning the covid-19 and the ukrainian war, they are no longer useful. Other countries face similar circumstances, but the UK is alone among the group of G7 powers with zero growth. It is time to talk about Brexit again.

The departure from Europe could have been done in many ways, some smoother than others. Successive Conservative governments, Theresa May, Boris Johnson y Liz Truss They progressively leaned towards the more extreme version. The final fireworks of that ideology blind to the reality of the markets has been the Truss plan. “The mini-budget was the culmination of the economic policies that have been established since the Brexit vote & rdquor ;, explains Peter Foster, head of public policy at the Financial Times.

Loss of business and economic momentum of the UK is obvious. According to the Peterson Institute in Washington, British exports have fallen by 6% after Brexit, while those of a country like Italy have increased by 13%, and that trend is continuing right now, with the UK about to enter recession. Since that referendum in 2016, the ctrade between the UK and the European Union it is down 16% from what was forecast had Brexit not taken place. Conversely, commercial transactions from the EU have fallen even more, by 20%, in the same period.

extreme version

Hands, president of the firm Terra Firma Capital, blames the current situation of the British economy on the obsession of a sector of the conservatives, with fulfilling “the dream” of the Brexit of “low taxes and low (social) benefits“. An extreme version of leaving Europe for which the British, he argues, did not vote and which has led to the countryal disastrous state of the economy“. In his opinion, the ‘Tories’ must abandon the internal struggles andadmit that some have been committed mistakes in the last six years, which have frankly put the country on the road to becoming the sick of europe“.

Brexit affects every aspect of British life, including family budget In day to day. Dependence on imports of food and other products from the continent have contributed to further increasing the inflation, which already exceeds 10%. The increase in paperwork and bureaucracy, with the new border obstacles, has left numerous small and medium businesses. There are obstacles to collaboration between universities and the EU has stopped recognizing many of the UK’s professional qualifications. There has also been a sharpening shortage of manpower. The current Finance Minister, Jeremy Hunthas suggested that it should opening hands with foreign workers to stimulate the increasesomething to which the currently Minister of the Interior is categorically opposed, Suella Bravermanone of the most radical ‘brexiteers’.

Restore pragmatism

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Financier Jurgen Maier, vice president of the firm Northern Powerhouse, believes that it is nowthe perfect time” for the new prime minister, Rishi Sunak, “to turn a corner” and send a signal to the world that the country is going to take “the right steps to restore the reputation of pragmatism y economic stabilityMaier suggests that Sunak has the power to make the UK become part of the single market and customs union, a step that no one, neither the Government nor the Labor opposition, has enough confidence to propose. “The biggest lie has been (saying) that we could replace the economic benefits of being in the most advanced free trade zone in the world,” he stresses.

El Brexit divided and faced to British society. Nobody for now wants to analyze their harmful effects. At the same time, the UK is gradually falling behind other powers. That should force us to reconsider the possibilities of correcting the relationship with Europe.