The U.K. economy now has to compete globally unlike the late 1920's when it set the rules while exploiting its empire and now it has placed economic sanctions upon itself while fantasising about trade deals in the Pacific region while ignoring the huge wealthy market right on its doorstep.Yes, things are pretty shit economically in Britain right now.
But he's not comparing like with like:
The Brexit calculation is a What-if comparison. To say those are only indicative is something of an understatement.
The Great Depression was a 15% drop in GDP.
The UK has not had a 15% drop in GDP, outside the massive drop for Covid, which every single country on earth had. It's broadly at the same level as 2019, effectively 3 years of no growth at all. Which is about 6.3-9.5% lower than it probably should be with Brexit. That is, if the overall Tory incompetence didn't take a decent few points off growth which I'm certain it would have.
Below trend growth is not the same as an absolute drop in GDP.
As for it being unprecedented in modern economic history, he might want to get some Greek friends...
Brexit was a political choice by an elitist corrupt Tory party and its donors made by people who can well afford to ride out any negative economic downside and many of them and their backers cash in big time in a low/lax regulation U.K.
Their politician's cannot even name a single Brexit benefit when challenged (The waffle on about vaccines in desperation).
They even have an answer to their woes staring them right in the face but it is politically unpalatable and Brexit has broken U.K. politics for a generation.
Start by improving their education system and reap the reward in about 20 years time?
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