It has been exposed to Britain’s services to strike Britain from the European Union

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One after the other supposed columns of the economic argument of Brexit has got rid of the facts. Away from the restriction to the corpse, where some Brexiters described the European Union’s economy, both the euro and the European Union grew faster than the United Kingdom since the 2016 referendum. Cargo exports in Britain Retreat Compared to the rest of the G7.

“Look at the services,” crysters cry. Export growth He wasAccording to policy exchange, the thought reservoir is concentrated. The budget responsibility office also indicated a year ago that the commercial growth of services in the United Kingdom was The strongest in G7.

Should we be happy to do so UK trade In the services was a good performance? Was this the result of Brexit? The short answers are “no” and “no”. Instead, we must be upset that service exports did not grow more and blame Brexit for this disappointment, according to New search From the London College of Economics.

Before explaining the results, it is important to note that although the UK economy has Many weaknessesServices strength. While TV crews will always want to photograph industries such as manufacturing or fishing to a visual description that makes the country rich, this is not related to 80 percent of Britain’s economic activity. The success of the United Kingdom lies in its lawyer, information providers, creative types, administrative advisers and teachers. A handful of universities Getting more export income From the entire fishing industry, for example.

Unusually for any economy, UK services Export exports exceed the commodity and is almost no trivial 40 percent higher In 2024 with the widening gap. However, OBR noted that all UK service exports appear as strong. Business services including administrative consultations, research and advertising – where Britain’s exit from the European Union The barriers were small or not present-they were growing strongly. Other services did not perform almost the performance, including financing and transportation, as the barriers that were established by leaving the unified market were important. But the International Financial Energy Agency left its suspended analysis.

He left the holes of the economist in the LSE CEA Hallowea, Swati Dengra and Daniel Arnold. Using the data that allowed the comparison between growth in the service trade across different sectors and a large number of husbands of countries, they examined the strength of services exports in the United Kingdom in each sector compared to all other countries. They also accurately examined the Trade and Cooperation Agreement in the United Kingdom and the European Union to document services that faced exports in the European Union new barriers after the post -Brexit deal entered into force in 2021.

The results are blatant. OBR was right to note that service exports in the UK facing new barriers in Britain’s exit from the European Union seemed worse. UK exports to countries with larger barriers have released more difficult. Where the most extreme barriers were provided, service exports decreased by 90 percent. On average, there was a 16 % decrease in service exports to the European Union in the sectors in which Britain’s exit from the European Union imposed new trade frictions compared to bilateral trade between other countries in the same sectors.

Have you allowed Britain’s exit from the European Union for British companies to focus on trade with the United States and other countries? Again, the answer was “no”. In general, the research found that services in the United Kingdom are issued five years after Britain’s exit from the European Union less than 4 to 5 percent of what it was without the effect of new commercial frictions.

In a nation that is struggling to accept its relative economic decline since Britain’s exit from the European Union, we have been very fast to celebrate a better performance of services. Instead of showing that Britain’s exit from the European Union may have some benefits, it simply shows that the United Kingdom has specialized in the appropriate industries in a timely manner, allowing many international companies to sell worldwide. Instead of generating “global Britain”, leaving the European Union had one simple impact: economic harm. Without Britain’s exit from the European Union, they could have done better.

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