What impact is Brexit having on the UK economy? - BBC News

In his first speech as UK prime minister on Tuesday, Rishi Sunak said he wanted to “build the economy”.

But many believe that Brexit is having a severe effect on British finances.

The UK’s trade has dropped in recent years, the pound has fallen considerably against the dollar and business investment is yet to return to its peak in 2016.

While these factors are predicted to be a result of Brexit, ministers have blamed international issues.

#Brexit #Economy #BBCNews

[joesphcu]

People are working and there is little or nothing to show for it. everybody is basically working to sort out one bill or the other. no savings.

[NZobservatory]

My favorite Brexit moment was hearing about the woman in a London travel agency ranting at the employees about how she "voted for Brexit to keep foreigners out of Britain, not to make it harder for [her] to vacation in Spain". Could anything sum it up more perfectly than that?

[velayuthman]

I'm a Brit living in Germany since 2010 and I run a small business here. Before Brexit I would order materials from the U.K., the prices were competitive and delivery was quick. Since Brexit, it no longer makes sense to order from the U.K. The prices are not as competitive but the most problematic part is that delivery is often delayed considerably, due to customs issues. I can't rely on receiving orders on time. This causes real problems for my business as I order materials for specific projects with tight deadlines. With inflation currently at about 10%, my primary concern is how to maximize my savings/retirement fund of about £600k which has been sitting duck since forever with zero to no gains.

[hbBilzZ]

My parents who live in Ireland now order things from Germany rather than the UK due to import costs. Absolute madness

[Kris-egjf]

Boris did say it will be Titanic success and it is 😂

[sphinx]

The people who voted for brexit will never accept it's a disaster and that they were misled.

[adambrickley]

I live in France. You can literally forget ordering anything from the UK. In general its usually more trouble than its worth.

[Kier_]

Its almost like leaving the biggest economic block of the world is bad for the economy.

[Robotoda]

Was speaking with a Brexit voter the other day. He's now blaming the EU for the higher prices not trading fairly with UK. They will never admit the cost of living crisis has been made worse because of their "patriotic" vote 🤦‍♀

[peterwilson]

Living in Finland tried to send a few items to the UK after Brexit the form was like 100 questions it cost 3 times as much took 3 times as long to arrive. I am British and I used to buy from the UK but not doing that ever again.

[Luca_]

In Italy we say: you wanted the bicycle, now you ride it

[gamingtonight]

It's simple, we used to be part of a 28 branch supermarket chain, buying cheap and being competitive. We then left that supermarket chain and decided we would be a corner shop, without realizing we would be buying in smaller amounts, and therefore having to charge higher prices, meaning lower sales. That is where we're at now.

[daydays]

I am very surprised to see the BBC finally telling some truth about Brexit. I wonder why. I saw the Financial Times did a similar, more detailed video recently....

[Stebbo]

I run a successful UK export services company. Brexit has been a disaster for us and our employees. There is not a single advantage but many disadvantages such as the need to get work visas for UK employees, endless paperwork and divergent regulations. Our response has been to halve our UK employee numbers and recruit Irish and other native speakers with EU passports - a net loss for the UK. It is time to rejoin the single market.

[peterl]

All of Boris’ promises were broken by leaving the single market.

[HeikoQuant]

I a dutch person living in Germany. My Son lives in London after going to school and uni in the UK. He is still doing reasonably well and has a permanent resident status. But nothing has improved after Brexit. Simply sending a box of cookies for Christmas has turned into an expensive and complex shipping exercise. What has the UK gained? Even the Tories have not come up with a good answer to this question. It seems to me that the turkeys voted for Christmas and it makes me sad.

[davidashton]

Wow the BBC is finally talking about Brexit, not before time.

[Ramsku]

Who ever thought that pulling out of the Customs Union and the Single Market would result into MORE trade with Europe never knew anything about trade and commerce!

[RagingGoblin]

What's really astonishing to me as an outsider is that the British did, in point of fact, have a singularly privileged position within the EU before the referendum, with many special rights, positions, and exceptions granted to them and only them. They actively influenced the EU's position and policies on things that would *only* directly affect their competitors within the EU -- like the old harbour situation in Portugal and Spain. That, on a lighter note, the British forever ruined the word marmalade in the EU I shall not even dignify with a comment.
In many ways, the UK was the *clear* winner of the EU, more so than often-quoted countries like Germany or Poland.

The only thing that is clear to me after the referendum is that some parts of the British seem to indulge in the fantasy of bygone times, Britannia hooray, by jingo and all that nonsense. It really speaks to itself that many British people, in their vernacular, speak of the mainland as 'Europe' -- which bewilderingly seems to imply that they're not part of continental Europe.
The entire referendum was held on the basis of partisan issues(us or them), deliberate misinformation (like that famous message on the bus), hidden agendas (like the Tories trying to break away from EU's workers' protection rights etc.), and general fearmongering (like how the UK is supposedly, in their words, ruled from afar).

It is what it is.
Still, if I were involved in any politics in the UK, I'd be looking into legal action against Johnson, Hamilton, Farage, and all the other deliberate liers.
Freedom of opinion and policies is all very well. But if you bring your own personal agenda into national politics and deliberately manipulate public opinion you're clearly on the wrong side of democratic values.

[checkforme]

With all this scary news making the headlines, is this really a good time to buy stocks? I know everyone says the mrkt is ripe enough for buying but will stocks tank further this year? How long until a full stock recovery? How are other people in this mrkt raking in over $250k gains within months, I'm really just confused at this point.