- Jul 10, 2003
- 27,942
In 2019, the last full year before we left the EU, our GDP was $122 billion ahead of France's. In 2023, it was $303 billion. Goldman Sachs are arguing it should have been $470 billion.
Goods exports to the EU made up approx 7% of the UK's GDP. Intuitively, it is nonsense that changing the terms and conditions of trade with the EU will cost almost as much as the total value of the goods trade, which has dropped by about 10% (though the general reduction in manufacturing in this country has a lot to do with high energy prices and the general move to service industries as well as Brexit).
If Goldman Sachs want their figures to be believed, by some of us, they could perhaps produce some details so they can be checked.
Or stick them on the side of a bus, that worked well for 'some people' last time