On June 23, 2016, the British people voted to withdraw from the European Union in a vote called Brexit.
Not many people are happy with the outcome after vainglorious promises weren’t kept.
Experts say the British economy is between 4% and 8% smaller than it would have been had the country voted to remain in the EU. That would translate to much higher living standards and billions more pumped into public services, including the cherished National Health Service, which was promised an extra 350 million pounds ($468 million) a week by Brexit campaigners. That pledge was emblazoned on their big red campaigning bus.
“Brexit has made the U.K. economy smaller than it otherwise would have been,” said Jonathan Portes, professor at King’s College London.
“The effect has not been a sudden collapse, but a gradual and cumulative drag on trade, investment and productivity,” he wrote in an article for The UK in a Changing Europe think tank.
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