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In June 2016, the UK voted to leave the European Union. Ten years later, Bloomberg Originals unpacks the economic cost of Brexit and the political forces it unleashed.
The Brexit vote sparked a surge in populism and triggered years of parliamentary deadlock that crippled a series of prime ministers. We examine the factors that drove the Leave vote, and how it changed politics both in the UK and around the world. We also use Bloomberg Economics modeling to analyze its impact on the UK economy. The conventional wisdom has always been that Britain’s exit would be a financial calamity. We do the math to see whether that’s true.
Far from settling the issue for a generation, Brexit continues to loom large over British politics, with the matter of Britain’s relationship with the EU still high on the domestic agenda. Meanwhile, with the US under Donald Trump retreating from old alliances, Britain and its European allies are confronting their most challenging geopolitical moment since the end of the Cold War.
Indeed, in the years since leaving the EU, successive UK prime ministers have sought closer alignment with Brussels. Some recent polling even suggests a growing majority of the British public would now vote to rejoin the bloc. Any attempts to do so would be met by fierce resistance, however, with one of the foremost architects of Brexit, Reform UK leader Nigel Farage, now a favorite to become the country’s next prime minister.
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