Research: Rejoining Customs Union Won't Fix Brexit's Damage to UK Exports
Exclusive: Economists find Brexit caused 12% depression in UK exports, most of which is due to leaving single market Brexit has depressed UK exports to the EU by 12%, and rejoining the customs union would undo only a fraction of the damage, research shared with the Guardian shows. With the UK’s future relationship with the bloc likely to feature prominently in a potential Labour leadership contest, the economists John Springford and Anton Spisak, of the Centre for European Re
New research indicates that rejoining the customs union would only partially address the damage caused by Brexit to UK exports. Economists John Springford and Anton Spisak of the Centre for European Reform found that Brexit has led to a 12% depression in UK exports to the EU, primarily due to leaving the single market. Their findings suggest that the economic repercussions of Brexit are substantial and cannot be easily reversed by simply re-entering the customs union. This research provides critical evidence as the UK's future relationship with the EU remains a prominent topic in political discourse. The study underscores the deep-seated economic impact of the UK's departure from the EU.
This presents research findings on the economic impact of Brexit, specifically concerning UK exports, and questions the effectiveness of rejoining the customs union as a solution.
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