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The Guardian - UK
The Guardian - UK
Politics
Phillip Inman

Brexit cost UK £27bn in lost trade in first two years, review finds

European Union United Kingdom OBR Brexit TCA LSE
Lorries on a cross-channel ferry at the Port of Dover in Kent
British goods exports fell by 6.4% and total goods imports by 3.1% in the period studied. Photograph: Daniel Leal/AFP/Getty Images

The damage from Brexit to trade links with the EU cost the UK £27bn in the first two years, but the overall impact was more limited than forecasters first estimated, according to the most comprehensive review of the issue since Britain fully left the bloc at the start of 2021.

Researchers based at the London School of Economics found that trade barriers had been a “disaster” for small businesses and had forced thousands to stop trading with EU nations.

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