Study Says UK Single-Market Return Could Add £92 Billion, Recouping 90% of Brexit Hit
Updated
Updated · The Independent · Aug 22
Study Says UK Single-Market Return Could Add £92 Billion, Recouping 90% of Brexit Hit
3 articles · Updated · The Independent · Aug 22
Summary
£92 billion in extra GDP could come from the UK rejoining the EU single market, according to Frontier Economics research commissioned by Best for Britain, which says that would recover at least 90% of Brexit’s economic damage.
Nick Boles, now a Labour adviser, is urging Prime Minister Andy Burnham to pursue a deal with EU leaders through a proposed “European Confederation” that would restore single-market access and youth mobility without full free movement or euro adoption.
59% of Britons back closer UK-EU ties and 50% support rejoining the single market, YouGov polling showed, giving political cover to a shift even though Burnham’s own Makerfield seat voted 64% to leave in 2016.
Economists are split on the scale and feasibility: Deutsche Bank said re-entry would cut trade friction and aid services, but RSM’s Thomas Pugh argued the gains may not fully reverse losses already suffered and would likely require politically difficult concessions on sovereignty, rules and budget payments.