Matt Frei: 'Has the economic crisis been made worse by Brexit?' Ex Secretary of the Department for Exiting the EU Philip Rycroft: 'Yes.' MattFrei | Kirkbytop
Inflation and the cost-of-living crisis – both of which are also linked to Russia’s invasion of Ukraine – have been made worse by the cost of Brexit, according to the Ex-Secretary of the Department for Exiting the EU., Philip Rycroft said there was “undoubtedly” a link between the UK’s current economic turmoil and the cost of leaving the EU.
The Ex-Secretary also pointed out the while the UK has forged new trade deals with Australia and New Zealand, the Office of Budget Responsibility predicted that, over time, the cost of Brexit will be a 4% hit on Britain’s economic prosperity. He referenced new trade deals the UK has forged with Australia and Japan, both of which are worth than less than 1% of the country’s GDP, which Matt responded are “tiny, tiny numbers.”
He reflected that Brexit had delivered on some of what was promised during the referendum, saying since leaving the EU “we’ve taken back control.”
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