What impact has Brexit had on the UK economy?

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What impact has Brexit had on the UK economy?
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It is three years since the UK left the EU and time to start looking at the evidence.

Talks are still taking place with India and members of a trans-Pacific pact. They are taking longer than previous ministers had hoped - but analysts think that taking things more slowly may actually lead to more beneficial agreements.How much businesses choose to spend on factories, training, equipment and technology, is also affected by our relationship with the EU. And the chancellor acknowledges that investment can turbocharge growth.

Economists argue about how to explain that gap. Some - including the International Monetary Fund - have suggested that uncertainty surrounding Brexit, including the unsettled issue of the Northern Ireland Protocol, have deterred at least some spending. Sir Richard Branson is among the business bosses who have suggested the cost of Brexit red tape would put them off investing in the UK.

Ultimately, however, a lack of investment means we are a less-efficient, lower-earning economy than we could be.Leaving the EU also meant changes to the rules on the free movement of labour and the introduction of a points-based immigration system That has prompted complaints from some unlikely quarters.

A study by the think tanks Centre for European Reform and UK in a Changing Europe suggests that there are 330,000 fewer workers in the UK as a result of Brexit. That may only be 1% of the total workforce - but sectors such as transport, hospitality and retail have been particularly hard hit.

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