Brexit Knocks the Wind Out of the U.K. Economy
Slowly and surely, the uncertainty over Brexit is taking a toll.
A house divided.
Photographer: Daniel Leal-Olivas/AFP/Getty Images
Britain didn’t leave the European Union on June 23, 2016; it merely voted to start the process. That, in turn, created uncertainty, but not a change in legal status, regulation or tariffs. Leaving on March 29 without a deal will change all this dramatically. But what kind of trade deals Britain might strike — with the EU, its largest trading partners, and others – is unclear.
That lack of clarity, as we’ve seen over the past two and a half years, has costs. As British lawmakers prepare to vote on Theresa May’s Brexit deal this week, it’s worth looking at some of the effects the referendum has already had in chart form.