UK Economy Still Counting Brexit Costs Ten Years After Vote

• A decade has passed since the UK's Brexit referendum.
• Economists widely agree Brexit has negatively impacted UK growth, business investment, and living standards.
• The UK economy is considered smaller than if it had remained in the EU.
• The UK is set to have its seventh prime minister since the 2016 referendum.
• Some Brexit voters express regret, citing economic damage and a worsening NHS.
• Efforts to forge a new UK-Ireland border arrangement between London and Brussels remain stalled.
• EU officials state that any UK reaccession process could exceed five years.
• Some UK pub company leaders report mixed views on Brexit's economic impact.

Ten years after the United Kingdom voted to leave the European Union, the economic and political repercussions of Brexit continue to be felt. Economists broadly concur that the UK economy is smaller than it would have been had it remained in the EU, with negative impacts on growth, business investment, and living standards. Despite promises of a brighter future, the UK has experienced anemic growth, high taxes, and strained public services. Economists estimate significant reductions in GDP, investment, and productivity.

Politically, the nation remains fractured and unstable, with the upcoming election poised to install the seventh prime minister since the 2016 referendum. This instability is largely attributed to Brexit's lingering effects. In bellwether constituencies, some voters who supported Brexit now express deep regret, citing economic damage to sectors like fishing and agriculture, increased export costs, and a worsening National Health Service (NHS). Others note the vote's impact on constitutional matters and the rise of nationalist parties.

Business leaders express frustration with Brexit's economic consequences, highlighting the gap between pre-vote promises and current realities. Pub company leaders, however, show divided views. Tim Martin of JD Wetherspoon points to job growth and economic resilience, while Simon Emeny of Fuller Smith and Turner argues the UK is in a worse economic position. Meanwhile, a decade-long effort to establish a new arrangement for the UK-Ireland border following Brexit has yet to result in a deal between London and Brussels.

Amidst growing calls for the UK to rejoin the EU, officials within the EU express caution. They have warned that any reaccession process would likely extend beyond a single five-year parliamentary term.