UK trade with the EU has been knocked by Brexit and businesses have faced higher costs, more paperwork and border delays since Britain’s withdrawal, according to the public spending watchdog.
A report by the Public Accounts Committee found that, while it was difficult to untangle how much of the hit to trade since the end of the Brexit transition on December 31 2020 has been caused by the Covid-19 pandemic and how much by Brexit, it was “clear that EU exit has had an impact”.
It said that far from freeing up firms to boost productivity and contribution to the economy, the “only detectable impact” of Brexit so far has been to increase the burdens on businesses.
