Five Years After Brexit: UK's Economic and Political Challenges Persist
Prime Minister Keir Starmer signals a push for closer EU relations, but major economic and social impacts linger from the 2020 departure.
- Since Brexit, the UK has faced slowed economic growth, with exports lagging behind OECD averages and investment stagnating.
- Small and medium-sized businesses have been particularly affected by increased trade barriers and administrative burdens in EU trade.
- Immigration patterns have shifted, with fewer EU workers and a rise in non-EU migrants filling critical labor shortages.
- Prime Minister Keir Starmer aims to reset UK-EU relations, focusing on defense and security cooperation while ruling out rejoining the EU or its single market.
- Public sentiment has turned against Brexit, with a majority now viewing the decision as a mistake and favoring closer ties with the EU.