{"id":165905,"date":"2021-01-29T13:04:00","date_gmt":"2021-01-29T10:04:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/how-brexit-is-already-taking-its-toll-on-the-u-k-economy\/"},"modified":"2021-01-29T13:04:00","modified_gmt":"2021-01-29T10:04:00","slug":"how-brexit-is-already-taking-its-toll-on-the-u-k-economy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/how-brexit-is-already-taking-its-toll-on-the-u-k-economy\/","title":{"rendered":"#: How Brexit is already taking its toll on the U.K. economy"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f582f6d988\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f582f6d988\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/how-brexit-is-already-taking-its-toll-on-the-u-k-economy\/#Prime_Minister_Boris_Johnson_recently_qualified_as_%E2%80%98teething_problems_the_many_incidents_and_trade_disruptions_triggered_by_the_start_of_Brexit\" >Prime Minister Boris Johnson recently qualified as \u2018teething problems\u2019 the many incidents and trade disruptions triggered by the start of Brexit<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/how-brexit-is-already-taking-its-toll-on-the-u-k-economy\/#Pierre_Briancon\" >Pierre Brian\u00e7on<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#: How Brexit is already taking its toll on the U.K. economy<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Prime_Minister_Boris_Johnson_recently_qualified_as_%E2%80%98teething_problems_the_many_incidents_and_trade_disruptions_triggered_by_the_start_of_Brexit\"><\/span>\n  Prime Minister Boris Johnson recently qualified as \u2018teething problems\u2019 the many incidents and trade disruptions triggered by the start of Brexit<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000145877\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       With disruptions at European borders and supply chains perturbed by new tariffs, the U.K. economy has begun to show the negative economic impact of leaving Europe\u2019s single market and customs union at the beginning of the year, several indicators show. <\/p>\n<ul class=\"articleList\">\n<li>\n      Gita Gopinath, the chief economist of the International Monetary Fund, said this week \u00a0as she was presenting the organization\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/Publications\/WEO\/Issues\/2021\/01\/26\/2021-world-economic-outlook-update\" class=\"icon none\">new economic forecast<\/a>, that Brexit would shrink the U.K. economy \u201cby about 1%\u201d this quarter.<\/p>\n<\/li>\n<li>\n      It was the only economy whose performance in 2020 was downgraded by the IMF, which estimates the country\u2019s gross domestic product fell 10% last year.<\/p>\n<\/li>\n<li>\n      Surveys by data company IHS Markit show that U.K. manufacturers and service providers are reporting the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.markiteconomics.com\/Public\/Home\/PressRelease\/d087a38a6ed845f6b4cf73967c960cbf\" class=\"icon none\">most severe disruptions<\/a> of their supply chains, which is \u201calmost exclusively linked to both Brexit disruption and a severe lack of international shipping availability.\u201d<\/p>\n<\/li>\n<li>\n      Freight volumes between the U.K. and the rest of Europe were <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/uk-britain-eu-factbox\/factbox-the-brexit-impact-so-far-paperwork-process-and-higher-prices-idUSKBN29W12F\" class=\"icon none\">down 38%<\/a> in the third week of January compared with last year.<\/p>\n<\/li>\n<li>\n      Paperwork, higher costs and compliance delays are severely affecting the traffic of goods on the U.K.-European Union routes, but they have an even more severe impact on trade between Britain and Northern Ireland, which remains in the single market.<\/p>\n<\/li>\n<li>\n      The Office for Budget Responsibility, the official fiscal watchdog, predicted back in November that Brexit would <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/obr.uk\/forecasts-in-depth\/the-economy-forecast\/brexit-analysis\/\" class=\"icon none\">shrink the U.K. economy<\/a> by 4% in the long run with a free trade agreement such as the one that was signed between the two sides just before Christmas.<\/p>\n<\/li>\n<\/ul>\n<p><strong>Read: <\/strong>High-tech British firms eye U.S. listings in blow to post-Brexit London stock market <\/p>\n<div class=\"paywall\">\n       <strong>The outlook:<\/strong> Prime Minister Boris Johnson recently qualified as \u201cteething problems\u201d the many incidents and trade disruptions triggered by the start of Brexit. But from British fishermen to City of London finance professionals, many rather expect the government to act to try soften the blow.<\/p>\n<p>The massive economic hit triggered by the COVID-19 pandemic may help hide the detrimental Brexit impact to the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> population in the first half of the year. But it is hard to see how the government will be able to mitigate the consequences of being an outsider to the single market without taking steps back toward the EU and opening further discussions.<\/p>\n<p><strong>Read:<\/strong> Why Europe Needs More Fiscal Stimulus <\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Pierre Brian\u00e7on\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Pierre_Briancon\"><\/span>Pierre Brian\u00e7on<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21005575-02D4-D4B5-4572-D239D5B0013F%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#: How Brexit is already taking its toll on the U.K. economy&#8221; Prime Minister Boris Johnson recently qualified as \u2018teething problems\u2019 the many incidents and trade disruptions triggered by the start of Brexit With disruptions at European borders and supply chains perturbed by new tariffs, the U.K. economy has begun to show the negative economic&#8230;<\/p>\n","protected":false},"author":1,"featured_media":165906,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-165905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/165905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=165905"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/165905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/165906"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=165905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=165905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=165905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}