Brexit will cost UK workers about £1,300 in lost income each year, claim experts

MILLIONS of workers in Britain will be about £1,300 worse off a year due to Brexit, leading experts said today.

- Nicholas Cecil 

They highlighted the blow to people’s income, compared with what it would likely have been if the UK had not quit the European Union, its biggest trading partner.

US president Joe Biden and Prime Minister Rishi Sunak were holding talks in Belfast today, with Brexit and the Windsor Framework on Northern Ireland trade expected to be on the agenda. But claims by Brexiteers before the 2016 referendum that a US-UK trade deal would be quickly struck to make up for the lost trade with the EU have turned out to be false.

The Government’s economic watchdog, the Office for Budget Responsibility, has said that the post-Brexit trading deal reached with the EU will reduce Britain’s long-run productivity by some four per cent, compared with if the UK had remained in the bloc. It added that both exports and imports will be around 15 per cent lower in the long run than if Britain had stayed in the EU.