David McNamara: From Brexit to a possible ‘Breturn’

A bolder economic strategy could place a new relationship with the EU at its centre

Brexit has reduced UK GDP by between 6%-8%, lowered investment by 12%-18%, and cut employment by 3%-4%.

2026 marks the 10-year anniversary of the Brexit referendum in the UK. Yet almost a decade on, the debate is receiving renewed focus given the current geopolitical threats to the broader European economy.

In 2016, the UK was the fifth largest economy in the world, roughly about 85% the size of Germany’s. It is now the sixth, and about 80% the size of a recently stagnant German economy. Indeed, new research provides fresh evidence of the damage the Brexit vote has caused the UK economy.