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Economy
Experts Say Brexit Has Made Britain Poorer Over Ten Years
• 1 min read • 0 comments
In brief
Ten years after the Brexit vote, experts say leaving the EU has made Britain's economy smaller. This has led to significant costs for households and businesses, with families on average thousands of pounds a year worse off.
Ten years after the vote to leave the European Union, experts now agree that Brexit has made Britain's economy significantly smaller. This has led to serious costs for both households and businesses.
Trade has suffered, and businesses have invested less. This means families are, on average, thousands of pounds a year poorer than they would have been.
The value of the British pound fell sharply after the vote and has not recovered its previous strength. This has made imported goods more expensive and affects British holidaymakers.
Wage growth has been slow, and many businesses have struggled with staff shortages. This is partly due to fewer workers from EU countries.
Public support for Brexit has steadily fallen over the past decade. Most Britons now believe closer ties with the EU would be better.