Economics: Yes, the scorecard from Brexit has now been filled out. More than 1/7 of Britain’s potential exports have vanished. As was predicted. The costs are immense—maybe 4% of national income from the direct channel alone, and there are additional indirect investment-reduction channels not modeled by the OBR or the BoE. It is worth remembering that Brexit was not supposed to pass, but to fail, and in failing simply falsely demonstrate to all the “Little Englanders” that one particular faction of Tory mountebanks was more on “their side” that other factions:

Chris Anstey: Brexit Gloomsayers Were Right, in Warning to US: ‘In the 2016 political battle over whether to take the UK out of the European Union, Brexit supporters dismissed <bloomberg.com/news/articles/2024-03-05/… professional economists’ forecasts for significant economic damage if the divorce happened. The results…. The gloomsayers… got it right…. A 15% fall in trade…. A long-term squeeze on the country’s e conomic potential <bloomberg.com/news/articles/2024-02-13/… from Brexit is playing out as feared. There’s been a 4% reduction in the UK economy’s potential productivity compared with if it had stayed in the EU, the OBR found… <bloomberg.com/news/newsletters/2024-03-…>