Brexit: After vaccines, London wins economic battle against EU

Brexit: After vaccines, London wins economic battle against EU

Opponents of Brexit promise real disaster for Britain, Not in the 2016 referendum. However, until its official release in late 2020, the country was not harmed. worst, After the notable success of its vaccine strategy compared to the European Union, Looms for years for a greater economic success for Great Britain than 27 years…

Business progress and strong recovery

One month ago, 41% decline in UK exports to EU in January compared to just 30% drop in imports, I went Brexit presented as a new negative result. However, these figures must be kept in perspective: the truth of a month is not necessarily one year, especially in the aftermath of Brexit and the health crisis. The commercial reality of the post-Brexit period cannot be fully ascertained until the end of 2021. And yet, even in this month of January, the reality was not bad for Britain. Actually, Because the country imports too much from the European Union as it sells it, the bilateral trade deficit had fallen by one billion.. Clearly, in January, trade with the European Union contributed positively to British GDP!

And the February figures are even better While imports from the European Union have increased by 7%, especially with pharmaceutical products, exports to the EU have exploded by over 46%. result, Bilateral deficit reduced by 2.5 billion pounds. Contribution to British GDP from trade with the European Union has already reached 3.5 billion in the first two months, a GDP surplus estimated at around 1%! And overall, exchanges in the first two months of the year with the European Union are compared in terms of health restrictions with exchanges made in April – May 2020. Of course, this is not a final decision, but the trend is clear: business disruption should be fairly limited and London wins over 2 months.

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But there is another area where Britain is set to win over the European Union by a large margin: economic reforms in 2021–2022. Of course, the country’s recession was strong in 2020, but now, The IMF forecasts a growth of 5.3% in Great Britain in 2021 and 5.1% in 2022 and 3.8% for the European Union over the next two years.. This catch is based on several factors. The first is the pre-health exit: From April 12, the roofs of pubs and restaurants, as well as all shops, have reopened across the channel, While the rest of the continent is under strict control and vaccination has been significantly delayed. Second quarter GDP figures will undoubtedly make a big difference on both sides of the channel.

But that is not all, because Great Britain, apart from the constraints of Brussels, takes the opportunity to support its economy much more than its former allies, Injecting more than 15% of GDP in budgetary measures, compared to 4 to 11% in large EU countries. If the trade balance does not deteriorate, London will benefit greatly from this more ambitious stimulus. opposite of this, EU recovery plan, already penalized and late, is still not valid, Which does not bode well for its impact on the continent. with this, 6.2% increase in British minimum wage above French minimum wage, And Immigration collapse across the channel Will support the demand of the economy. To cap it off, the pound has remained at a fairly cheap level since 2016, which has protected the nation’s economy.

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and if British vaccine strategy triumphs Was that the only economic breakthrough proposed in the next two years? Away from The situation after Brexit was that some were predictingAll in all it seems that the British economic performance is largely outweighed by its former partners, with a policy contrary to that of a financial parasite, Between massive public investment and reassessment of the status of popular classes.


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