Great Britain has been sliding from one crisis to the next since the Brexit referendum at the latest. The European Union is lagging behind Great Britain in terms of economic growth, as a calculation by Agenda Austria shows.
Accordingly, the real gross domestic product per capita in Great Britain has increased by only three percent since the Brexit referendum. In the EU, the increase has since been more than three times as high. “The British are still richer per capita than the Europeans, but they have become poorer in comparison,” says the Agenda Austria broadcast.
Behind the EU since 2017
And it has been evident year following year since 2017, without exception: since the EU exit referendum, per capita GDP growth in Great Britain has consistently been below that in the European Union. Since the implementation of Brexit in 2020, the backlog has become particularly obvious.
Prospects for trade uncertain
According to the experts at Agenda Austria, this development cannot be attributed solely to Brexit. Countries have come through the crises of recent years with varying degrees of success. But: “Business investments in the UK have been developing poorly for years. The prospects for trade relations are also still uncertain. Brexit is likely to have contributed to this misery.” However, it is still too early for a final analysis of the long-term Brexit effect, as several crises are overlapping, according to Agenda Austria.
