How much is Brexit responsible for the UK’s dire economic outlook? | DW News

DW News published this video item, entitled “How much is Brexit responsible for the UK’s dire economic outlook? | DW News” – below is their description.

It´s 3 years ago that after a lot of wrangling, Britain finally left the EU. Before Brexit, economic experts warned that the economic consequences would be dire. Now, Britain is no longer a member of the single market but has to make do with a bare-bones trade deal. And it´s become clear that this causes problems mainly for smaller companies that used to trade freely with the EU.

Britain is the only G7 country whose economy is set to shrink this year, according to the IMF. A mix of problems like higher taxes, shortage of workers and surging gas prices are to blame – and the impact of Britain’s exit from the EU three years ago is also seen as a unique drag. Brexit has been a nightmare for many companies in the UK.

Three years after the UK formally left the EU, one thing is clear: Brexit was always a political project. For many businesses across the country, any economic benefits are hard to find.

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DW News is a global English-language news and information channel from German public international broadcaster Deutsche Welle, established in summer 2015.

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In This Story: Brexit

Brexit is the name given to the United Kingdom’s exiting the European Union, which happened on 31 January 2020, following a narrow “Leave” referendum result in a June 2016 vote on EU Membership which took place in the country. News items related to Brexit are posted, below, chronologically, with the most recent items at the top, from a variety of outlets.

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