The Brexit effect: how leaving the EU hit the UK | FT Film

The UK's recent disastrous "mini" Budget can trace its origins back to Britain's decision to leave the European Union. The economic costs of Brexit were masked by the Covid-19 pandemic and the crisis in Ukraine. But six years after the UK voted to leave, the effect has become clear. In this film, senior FT writers and British businesspeople examine how Brexit hit the UK economy, the political conspiracy of silence, and why there has not yet been a convincing case for a 'Brexit dividend'.

Produced, directed and edited by Daniel Garrahan

#brexit #ukeconomy #business #EU #europeanunion #Tories #conservatives #Labour #labourparty #ukip #britain #ukpolitics #UKbusiness #liztruss #BorisJohnson #kwasikwarteng #KeirStarmer #jeremyhunt #NigelFarage #UK #unitedkingdom #news #uknews #currentaffairs #bondmarket #gilts #sterling #tradebonds #markets #financialmarkets #finance #investing

00:00 - The Brexit effect
01:41 - The economic impact
04:40 - Brexit and business
09:45 - Britain falls behind
13:45 - The labour market
15:05 - Northern Ireland conundrum
16:50 - The conspiracy of silence
18:57 - Winners and losers
21:17 - The Brexit 'dividend


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[mrfarax]

As a Dutch person I thank the English for this experiment, we had some corners in our country who wanted that as well. But thx to you guys we don't even talk about leaving anymore

[rikremmerswaal]

If you leave a union, you are no longer entitled to the benefits of said union. What a shock.

[qlunngx]

They were told, "We send so many million Pounds to the EU everyday. "

They never asked, "How many million Euros does the EU send back to us? "

[megaconstans]

So I divorced my wife but I still do expect all the marital benefits.

[chenling]

One of my favorite quotes: "For every complex problem, there is a solution which is clear, simple, and wrong."

[kdis]

As a Scotsman, I am so sad that Scotland was dragged out into this mess even though as a country we voted to stay in the EU.

[dimitrivforvictory]

Hilarious, so worried about the Polish stealing their jobs now they just have the whole company in Poland 😂😂😂😂 😊

[LutzHerting]

Looking at this whole mess from the outside, it is seriously weird to still hear people (including critics) say "We are treated as a third country now." ... You aren't "treated as a third country", you ARE a third country. Becoming one is literally what you voted for in the first place.

[twofargne]

I'm a retired American who moved to France 6 years ago. Quite frankly, I have zero sympathy for the older generation Brexiteers; you made your bed, now sleep in it. I do, however, have great sympathy for the younger generations of Brits; they realized what the impact was going to have on their lives. Whereas the older generations only care about keeping their short-sighted sovereign greedy mentality in place, the younger generations instinctively knew that you need good business relations with other countries in order to get the things you want and need.

[dombaker]

The UK had it all - strong pound, free trade with the whole of Europe, growing economy. All buried in a single referendum.

[Nelson]

I'm a Portuguese Mechanical Engineer that worked 10 years for a lorry diesel injector industry in Suffolk, developing and improving the production system. The improvements that I developed had a return for the company of almost 1million pounds per year... although I paid all my taxes I had 2 English neighbors knocking my door to leave the country because I was taking English people's jobs. Good luck now.

[jave]

As a EU-Citizen, i am so happy we didnt bend over for UK after brexit, just to keep them friendly or something. It was one of the few moments we really acted like a union and showed the rowdy kid the way out.

[CTFlink]

Voluntarily exiting the worlds largest trading union that others fight so hard to join is just another nail in the coffin of what was once the world's most powerful empire.

[bijhua]

How anyone voting for Brexit believed that you can “divorce” but still remain “friends with benefits” is beyond any form of imagination. Childish actions often have bitter results.

[alexandrelarsac]

As a French EU citizen, i feel only sad for the Scottish taken away against their will and also for the young British generation deprived of all the EU benefits.

[Frantrek]

I was working in Scotland when Brexit happened. The day after the vote, a farmer came to the bar I was working at and screamed at me for 20 minutes ("Go back to your country!" "We don't need Europe!").
Couple of years later, he had to sell his farm. No better deals for farmers. No more programs funded by the EU. No more money from the EU.
Karma at its frigging finest.
I moved back to Spain last year. UK economy was (and is) crumbling and they can only blame it on themselves.

[benjicool]

I'm watching this video again, and I cannot fathom how businesses were so naive to think that Brexit would not affect their operation within the EU.

[allandnothing]

I have zero sympathy for the business owners who say "I was in favor of Brexit but didn't know that it would be so hard to export and import afterward". That was repeated over and over again during the debates before the vote.
It's not that you didn't know. It's that either you chose not to believe what you were told, or you didn't care enough to pay attention.

* edited to fix spelling *

[michaelhope]

one of the biggest trading unions in the world has damaged the UK economy?! Who would've predicted that?

[diedertspijkerboer]

I used to buy products from Britain fairly regularly, but I've stopped doing that, because I pay a 25% import tax, which I simply am not willing to pay.