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LSE warns Brexit damages UK’s competitiveness, reduces productivity and lowers Brits’ real wages

A new bombshell study said this morning that Brexit has damaged Britain’s competitiveness, reducing productivity and lowering workers’ real wages in the years ahead.

The report said Britain has experienced a decline of 8 per cent in trade openness – trade as a share of economic output – since 2019, losing market share across three of its largest non-EU goods import markets in 2021, the US, Canada and Japan.

The report said the immediate impact of the referendum result has been clear, with a “depreciation-driven inflation spike” increasing the cost of living for households, and seeing business investment falling.

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