The UK has now passed the third anniversary of leaving the EU, with very little positive to show for it. Bloomberg has found that Brexit is costing the UK £100billion a year in lost output, with significant impact on investment and employment.
The Bank of England has noted the effect on growth, stating this week that it’s having a faster impact than they had anticipated. And Glasgow has been the hardest hit city in Scotland, with £255m lost due to the drop in exports. These impacts are only the tip of the iceberg.
Back in 2016, my office produced a report on the benefits of being in the EU for Glasgow. These included access to the Horizon research funding for our universities, in which Scotland punched above her weight, and Erasmus+ which facilitated educational exchanges across Europe for schools and community groups as well as those in further and higher education.
