So, Brexit has a bigger impact than the covid pandemic in the long term.
A fiscal watchdog chief stated that Brexit will cause more problems in Britain’s economy than the Covid-19 pandemic. Richard Hughes, chairman of the Office for Budget Responsibility, mentioned it had concluded that dropping the EU would “lessen our long-run GDP by around four per cent”.
Brexit’s impact cause more damage than the Covid pandemic
He added that the effect of the pandemic will decrease GDP (a measure of the size of the economy) output by an extra two per cent. So, Brexit has a bigger impact than the covid pandemic in the long term.
GDP’s inflation after Brexit
Gross domestic product, or GDP, also anticipated inflation to reach 4.4 per cent. If it happens, it means “the highest rate detected in the UK for three decades”.
The reason Brexit can make GDP become highest rate
It came as Downing Street promised to repay France. In this case, if Paris goes ahead with a “disappointing and disproportionate” warning to force sanctions in an increase of a row over fishing boats.
France has caught a British trawler fishing in its territorial waters without a licence. The country declared a verbal warning to a second vessel. The warning occurred amid an increasingly intense row over way to fishing areas after Brexit.
The French Government suggested will block British vessels from some ports next week. The suggestion last until the post-Brexit discussion overfishing licences is set.
Paris even went as far as proposing to limit energy supplies to the Channel Islands if no deal is reached with the UK. It came as relationship since the EU departure is further spoiled.
Downing Street commented that the warnings do not resemble to be agreeable with “international law” and promised an “appropriate and calibrated response” if Paris does not back down.