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| Photo: Clive Simpson |
TEN years ago
tonight I sat up late watching the results of the EU referendum come in. Like
millions of others, I had expected the country to step back from the brink.
Instead, on the morning of 24 June 2016, Britain woke to discover it had
embarked upon the largest act of economic and political self-harm in its modern
history.
A decade later,
the verdict is in. Brexit has failed. That is not a
partisan slogan or the bitter complaint of someone who voted Remain. It is the
unavoidable conclusion reached after ten years of evidence.
The remarkable
thing about the tenth anniversary is not that Brexit remains controversial. It
is that anyone still feels able to argue it has been a success.
Had Brexit
delivered even a fraction of what was promised, now would be a day of
national celebration. There would be speeches, commemorations and triumphant
headlines. Politicians would be queueing up to claim credit. Instead, most
would rather avoid mentioning it at all.
That silence
speaks volumes. As I wrote in the aftermath of the referendum, Brexit was never
really about Europe. It became a vessel into which voters poured every
frustration they felt about austerity, immigration, stagnant wages, housing
shortages, failing public services and political neglect. The European Union
became a convenient proxy for a host of domestic failures that had little to do
with Brussels and everything to do with Westminster.
The cure turned
out to be worse than the disease. The promised economic renaissance never
arrived. The bonfire of red tape never happened. The NHS did not receive £350
million a week. Trade did not become easier. British exporters did not discover
a golden age of global opportunity. Instead, a growing body of evidence points
in precisely the opposite direction.
Recent research
suggests that Brexit has reduced UK GDP per capita by between six and eight per
cent compared with similar advanced economies. Business investment is estimated
to be 12 to 18 per cent lower than it would otherwise have been, while
employment and productivity have both suffered significant declines.
These are not
abstract statistics. They represent lost opportunities, lower wages, reduced
tax revenues and fewer resources for public services than would have otherwise been the case.
In 2019 I
described this as Brexit's "invisible uncertainty" – the economic
drag created when businesses postpone decisions, investors look elsewhere and
opportunities quietly disappear. A decade on, that uncertainty is no longer
invisible. It is reflected in the country's weaker growth, lower productivity
and diminished prospects.
Even before the
long-term consequences became clear, markets delivered an immediate verdict.
When the referendum result emerged in June 2016, sterling experienced its
largest single-day fall since the era of floating exchange rates began. Unlike
the stock market, which eventually recovered, the pound never truly regained
its former strength.
Of course, Brexit
supporters have spent years arguing that the real problem was not Brexit itself
but the way it was implemented. It is a familiar defence.
Communism never
failed because of communism. It failed because it was implemented incorrectly.
Brexit, apparently, suffers from the same convenient excuse. Yet the reality is
that Brexit was always built upon contradictory promises.
Britain would
enjoy all the benefits of membership without any obligations. Immigration would
fall while the economy boomed. Trade would become easier despite introducing
barriers with our largest trading partner. Regulation would be slashed while
standards remained unchanged.
These things could
never all be true at the same time and, 10 years on, the public increasingly
recognises that fact.
In 2022 when I
wrote ‘Breaking the Brexit Taboo’ and questioned why Brexit was still treated
in some quarters as an act of disloyalty. Today the taboo has largely
disappeared. The debate has moved on from whether Brexit can be criticised to
whether anyone can credibly claim it has succeeded.
According to
recent polling, 57 per cent of people in Great Britain now believe leaving the EU
was the wrong decision, while only 30 per cent think it was right. The only
surprising thing about that statistic is that 30 per cent still think it was
the right decision.
The referendum
itself now feels like a relic from another political age. David Cameron, who
called it, resigned within hours of losing it. Theresa May was consumed by it.
Boris Johnson rode it into Downing Street before being destroyed by his own
conduct. Liz Truss briefly crashed the economy. Rishi Sunak inherited the
wreckage. Keir Starmer attempted to manage the consequences but had only been
repairing EU relations in a limited way.
By this tenth
anniversary Britain has gone through seven prime ministers since the vote.
Stability and prosperity were among Brexit's promises. Neither has been
delivered.
And then there is
immigration. One of the central arguments advanced by Leave campaigners was
that Brexit would allow Britain to "take back control" of its
borders.
Yet net migration
reached record levels in the years following departure from the EU. Whatever
one thinks about immigration itself, Brexit demonstrably failed on one of its
own defining tests.
Several years ago,
in the aftermath of the Covid pandemic, I coined the phrase "long
Brexit". The comparison with Long Covid seemed appropriate then and even
more so today. The acute political shock may have passed but the symptoms
remain stubbornly present.
Economic under performance, labour shortages, trade friction, political instability and
endless arguments about Europe continued to shape British life long after the
referendum itself had disappeared into history. A decade later long Brexit
remains with us.
Perhaps the
saddest aspect of the entire saga is the opportunity lost.
Imagine a Britain
that had spent the last decade focusing on housing, productivity, energy
security, climate adaptation, infrastructure, education and healthcare rather
than tying itself in knots over customs arrangements, trade agreements and
constitutional disputes.
Imagine a politics
that had sought solutions to the country's real problems rather than inventing
imaginary enemies.
Instead, an entire
generation has lived through a period dominated by a project that promised
national renewal and delivered national diminishment.
The irony is that
Brexit was sold as a means of restoring sovereignty and confidence. Yet modern
Britain feels less confident, less prosperous and less influential than it did
in 2016.
Brexit was sold as
an event. In reality it became a condition and history will ultimately decide
where the episode sits in the long story of this country. But ten years on, one
conclusion seems unavoidable. The referendum was not the beginning of Britain's
revival. It was the beginning of a long decade of decline.
And, as the country
prepares for yet another Prime Minister and another round of ministerial
changes, we are still living with the consequences.
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Photo: The Sir Peter Scott lighthouse at Sutton Bridge from a photo by the author. The original picture was taken during a recce trip for the novel Flood Waters Down, a climate change and AI thriller which is available now.
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