Brexit could impact GDP more than Covid, says OBR

The OBR’s assessment yesterday suggested that Brexit could have a more long-term impact British GDP than the pandemic.

The Treasury watchdog’s analysis said “both import and export intensity had been reduced by Brexit.”

They also highlighted that full post-Brexit checks are not yet in force, and the fll effects of the 2016 referendum remain to be seen.

The Tony Blair Institute claimed in its post budget comments that “without the Brexit shock most of the past year’s £40 billion tax raid would have been unnecessary.”

Meanwhile the liberal conservative think tank Bright Blue said of the budget, “Really, we are returning to the New Labour days – Brexit Blairism, if you like.”