Brexit's economic damage is now impossible to ignore, and the case for rejoining the EU has never been stronger. As Andy Burnham rightly said, "hope comes from honesty" – and the honest truth is that leaving the EU has harmed the UK economy. New analysis reveals the stark reality: Britain is poorer, less competitive, and falling behind its European neighbours.
The Economic Cost of Brexit
Research commissioned by City Hall in 2024 showed that London's economy alone was £30bn smaller than it would have been without Brexit. Across the UK, nearly 2 million fewer jobs exist as a direct result of leaving the EU. These are not abstract figures; they represent lost opportunities for families, businesses, and communities.
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More alarming is the long-term trend. Since 2016, the UK has grown more slowly than comparable European economies. If this continues, our economy could be £250bn smaller by 2030 than similar EU countries. The sunlit uplands promised by Brexiters have proven to be a total fiction.
Why Rejoining the EU Makes Economic Sense
Rejoining the EU would restore access to the single market, reduce trade barriers, and attract investment. It would also address labour shortages in key sectors like healthcare, agriculture, and hospitality. The economic benefits are clear, but political courage is required.
Comparison: UK vs. EU Growth (2016-2024)
| Indicator | UK | EU Average |
|---|---|---|
| GDP Growth | 1.2% | 1.8% |
| Trade Volume | -15% | +5% |
| Foreign Investment | -20% | +10% |
Key Takeaways
- Brexit has cost the UK economy £30bn and 2 million jobs.
- The UK is growing slower than EU counterparts, risking a £250bn loss by 2030.
- Rejoining the EU would boost trade, investment, and labour supply.
- Political honesty is needed to make the case for rejoining.
The Political Challenge
Labour must lead the charge. Andy Burnham's call to rethink Britain's relationship with the EU is a start, but it must be followed by concrete action. The public deserves an honest debate about the costs of Brexit and the benefits of rejoining. As Burnham said, "Brexit has done more harm than good." It's time to act on that truth.
FAQ
What is the economic impact of Brexit?
Brexit has reduced UK GDP by an estimated 4-5%, cost £30bn in London alone, and led to nearly 2 million fewer jobs. It has also slowed growth compared to EU countries.
Why should the UK rejoin the EU?
Rejoining would restore single market access, boost trade and investment, address labour shortages, and reverse the economic decline caused by Brexit.
What does Andy Burnham say about Brexit?
Andy Burnham has stated that "Brexit has done more harm than good" and called for a rethink of Britain's relationship with the EU, emphasizing honesty and hope.
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