Brexit is “a huge opportunity” for Britain’s growth, Prime Minister Rishi Sunak said on Monday night, as his 100th day at Downing Street on Tuesday also marks the third anniversary of Britain’s exit from the European Union.
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As of January 31, 2020, “We have made tremendous strides in using the freedoms that Brexit offers to address generational challenges. Whether it’s leading the fastest vaccine deployment in Europe, securing trade deals with over 70 countries, or taking back control of our borders,” he said in a statement.
“In my first 100 days as Prime Minister, that momentum hasn’t diminished,” he added. “I am determined to ensure that the benefits of Brexit continue to empower people and businesses across the country. »
Downing Street’s press release specifically emphasizes “the immense opportunity” of leaving the EU, particularly “for the growth of the UK economy”. He points to the creation of free ports, areas that are outside of the country’s customs territory and therefore benefit from favorable taxation, and the prospects he believes post-Brexit deregulation will open up.
However, according to the public budgeting institute OBR, despite the free trade agreement signed with the EU, leaving the EU will reduce the size of the British economy by around 4% in the long term. Additionally, the UK is the only G7 country not yet to return to its pre-COVID-19 gross domestic product (GDP).
British popular support for Brexit has also never been weaker. Less than a third of Britons believe it was a good decision, according to a YouGov poll published in November. One in five Brexiters has changed their mind.
Arriving at the helm of the UK government at the end of October, Rishi Sunak restored some form of stability after Liz Truss’ lightning mandate, but he is struggling amid the many social unrest caused by price hikes and inflation exceeding 10% in the country .