Seven years on we need to finally stop blaming Brexit just look at the numbers
Published: 07/12/2023 by Paul Ormerod
In this first of a series of updates on the impact of Brexit, Professor Paul Ormerod argues that Brexit is a convenient scapegoat for the UK’s economic woes, but if we dig into the data we’ll see a different story,
Two quite contradictory messages have been given about Brexit over the past few days or so. First, Makoto Uchida, the chief executive of Nissan, a company originally very critical about the UK’s exit from the EU, pronounced that the impact of Brexit on its UK operations is now negligible. He urged the country to be more optimistic about its prospects. A £2bn upgrade of the firm’s Sunderland plant was announced, confirming the UK as Nissan’s main operational base in Europe. Hot on the heels of Mr Uchida, Ursula von der Leyen, the European Commission President, claimed that her generation of politicians had “goofed up” over Brexit.
One thing we know for certain is that the short-term forecasts put out by the Remain campaign during the referendum were shown to be spectacularly wrong. Following the vote in June 2016, by the end of that year the UK was meant to be in a deep recession and unemployment was going to rise by half a million. In fact, in the second half of 2016 GDP grew at a respectable annual rate of two per cent, and unemployment fell.
But how do we stand now, over seven years after the decision to leave?
The estimates of GDP published by the OECD in Paris tell a revealing story. Between the second quarter of 2016 and the most recent figure for the third quarter of this year, the British economy only grew by 9.1 per cent.
The figure, amounting to not much more than one per cent a year, is disappointing. This is why both Rishi Sunak and Keir Starmer have placed the aim of raising the growth of both output and productivity centre stage in their policy objectives.
In Spain, however, growth over the same period was a bit less, at 8.3 per cent. In both France and Italy it was even lower, at 5.5 and 5.3 per cent respectively. Perhaps Germany, the poster country for many Remainers, can alter the story? But no. GDP there rose by just 6.2 per cent.
The manufacturing lobby makes a lot of noise, almost portraying Brexit as a catastrophe for the sector. The positive pronouncements of companies like Nissan do not seem to dampen the relish and enthusiasm with which this narrative is set out.
But it is Germany rather than the UK where manufacturing has performed really badly since Brexit. Again using OECD data, here in the UK output has grown by 7.6 per cent. True, lower than the economy as a whole. But in Germany, manufacturing output is actually six per cent lower than it was in the first half of 2016.
BREXIT was the greatest change to UK politics ever, and Britain has left the EU as determined by Bible Prophecy over 2,500 years ago. This article is interesting as despite all the nays complaining about things in Britain, the data shows a different and more positive story.
What’s more, Bible Students fully expect to see the UK and the USA come close together with the UK leading the Commonwealth Nations as the KING OF THE SOUTH against the EU and RUSSIA. We will see this develop following BREXIT. Bible Prophecy is very clear on the fact that Britain will be a major global politically leader at the time with Russia and the EU invade the Middle East. Britain will assume this role following BREXIT along with the Commonwealth Countries (and America who is also of British origin) make up the King of the South (along with Israel, Eqypt and the Gulf Arab Nations) at the time of the end that will move to stop Russia and Europe from invading the Middle East.
God has declared the End from the Beginning and the Bible (God’s Word) revealed that Britain would not be part of the EU when Christ Returns to Earth, and World Events have conspired to ensure that has now happened. But we need to keep watching this development as there is much to see yet as Britain takes her place once more on the World Political Stage.
See this Article to learn more about Britian and the Commonwealth Block in Bible Prophecy.
See this article below to learn more about this:
Britain a Trading Nation Again
