Goldman Sachs: Brexit's Long-Term Impact on UK Economy

Goldman Sachs analysis indicates that post-Brexit Britain has "significantly underperformed" other advanced economies, estimating a 5% lower economic growth compared to similar countries over the past eight years. The bank attributes this to reduced trade, weaker business investment, and labor shortages due to lower immigration from the EU. The U.K.'s real GDP per capita has barely risen above pre-Covid levels, and while new non-EU trade agreements could potentially mitigate the costs of Brexit, estimates suggest the benefit is likely to be small.