Brexit: Expert discusses UK’s ‘vision’ and predictions
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A TV report on Germany’s DW channel has admitted that the EU’s dire impact of Brexit “have not come true”. However, a leading economist insisted that the UK has been “been performing very badly, so in that sense, Brexit has clearly failed to deliver”. The TV report on the state broadcaster reflected on a “year since Brexit took full effect and the UK left the EU’s single market and customs union”.
While many experts predicted disaster for the British economy, Daniel Winter, from DW Business, said: “It is true that most of the dire predictions did not come true.
“The pound took a bit of a beating at first but then recovered.
“The City of London is not currently a shadow of its former self.
“The Prime Minister says these are teething problems but Britain is not yet, or even close to becoming a Singapore on the eastern Atlantic, which was partly the vision.”
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He added: “Britain is facing a winter of discontent.”
DW’s Carl Holm reported that independent economists still expect the UK’s GDP to drop by 4 percent as a result of Brexit in the coming years.
He added: Exports have already fallen.
“So far, the British Government has not been able to deliver its Brexit promise.”
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Jonathan Portes, an economist at King’s College London, told DW: “Whereas the EU has expanded its exports to the rest of the world, the UK has not.
“We have been performing very badly, so in that sense, Brexit has clearly failed to deliver.”
This comes as a poll for the Observer, carried out by Opinium, found that more than six out of 10 voters believe Brexit has either gone badly or worse than they expected.
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The survey also found that 42 percent of people who voted Leave in 2016 had a negative view of how Brexit had turned out so far.
This comes as the minister in charge of Brexit, Lord David Frost, resigned from Boris Johnson’s government last week.
Lord Frost has since been replaced by Foreign Secretary Liz Truss.
There are fears of another wave of disruption in the new year with new post-Brexit trading rules that come into force on January 1.
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