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Solasch
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Solasch is male  Solasch has posted at least 25 times and has been a member for 3 months or more 
 
12-05-2021, 12:51 PM
1

Economic damage of brexit becoming clear

The EU has today updated its economic forecast for 2021 and 2022. Growth rates for those years respectively 4.2% and 4.4%
https://www.cnbc.com/2021/05/12/eu-e...-may-2021.html

In the UK these percentages are respectively 5.0% and 5.3%
https://www.express.co.uk/news/polit...latest-covid19

But what will be the resultant economic damage of brexit by 2022?

According to the express article the EU gdp decreased by 6.1%. So from 100 to 100- 6.1 = 93.9%.
The 2021 increase of 4.2% brings it to 93.9 + (4.2 0.939) = 97.8%. The further increase in 2022 brings it to 97.8 + (4.4 0.978)
= 102% so 2% above pre-pandemic levels.

To express states the UK gdp declined by 9.8%. So from 100 to 100- 9.8 = 90.2%.
The 2021 increase of 5.0% brings the UK gdp to 90.2 + (5 0.902) = 94.2%
The further increase in 2022 brings it to 94.2 + (5.3 0.942) = 99% so still 1% under pre-pandemic levels.

So what does the article in the Express show us? First, that the EU is doing better than the UK, despite the difference in covid vaccination.

The UK gdp could have seen, like that of the EU, significant growth, now it's a decline.
Due to brexit economically the UK is 3% in gdp behind the EU, and that difference only two years after brexit!
 

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