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Berthold Busch IW-Analyse No. 150 28. July 2022 After Brexit: An initial assessment of the economic and political consequences for the UK

The British hopes for a high Brexit dividend as a result of the United Kingdom’s departure from the European Union have not been fulfilled.

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An initial assessment of the economic and political consequences for the UK
Berthold Busch IW-Analyse No. 150 28. July 2022

After Brexit: An initial assessment of the economic and political consequences for the UK

German Economic Institute (IW) German Economic Institute (IW)

The British hopes for a high Brexit dividend as a result of the United Kingdom’s departure from the European Union have not been fulfilled.

While the country has failed to gain much financial leeway, new trade agreements with third countries have by no means compensated for the disadvantages in trade policy brought about by Brexit. In 2021 – the year in which the single market rules were superseded by the terms of the Trade and Cooperation Agreement – the adverse effects on the exchange of goods between the two economic areas became clear. British imports from the EU-27 in particular have suffered. Nor has a “Singapore on the Thames” emerged, despite signs that regulations for companies in the two economic areas are beginning to diverge. Further, far-reaching deregulation would also prove less straightforward than many claim, showing the limits to the Brexiteers’ intention to “take back control”. The Northern Ireland Protocol has only partially fulfilled the hopes placed in it and new border controls in the Irish Sea have led to political tension in the province. Moreover, trade between mainland Britain and Northern Ireland is clearly subject to diversion effects: while the exchange of goods between Northern Ireland and the Republic has grown substantially, there has been a slowdown in commerce between Northern Ireland and the British mainland.

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An initial assessment of the economic and political consequences for the UK
Berthold Busch IW-Analyse No. 150 28. July 2022

After Brexit: An initial assessment of the economic and political consequences for the UK

German Economic Institute (IW) German Economic Institute (IW)

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Hans-Peter Klös / Sandra Parthie in Martens Centre for European Studies External Publication 21. June 2023

The UN Sustainable Development Goals: Some Reflections from the Perspective of the European Economic and Social Committee

To some, it might seem odd that the Sustainable Development Goals (SDGs) would be of relevance to the highly developed industrial nations that form the EU.

IW

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Philipp Saueracker Event 13. June 2023

Europe’s Digital Decade: how to reach a skilled workforce in 2030 to succeed in the digital transformation?

At the beginning of this year, the European Commission launched the first cycle of the Digital Decade policy program.

IW

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