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Brexit's £90 Billion Cost Fuels Calls for EU Renegotiation

11/27/2025

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Summary

Story summary

Brexit costs the UK £90 billion annually in lost tax revenues, per the National Bureau of Economic Research.
The analysis finds UK GDP is 6–8% smaller than it could have been because of Brexit.
This comes before Chancellor of the Exchequer Rachel Reeves' Budget, with anticipated tax hikes.
Ed Davey urges renegotiation of the EU relationship to address the damage.
Public sentiment now views Brexit as a significant economic failure.

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Story summary

Brexit costs the UK £90 billion annually in lost tax revenues, per the National Bureau of Economic Research.
The analysis finds UK GDP is 6–8% smaller than it could have been because of Brexit.
This comes before Chancellor of the Exchequer Rachel Reeves' Budget, with anticipated tax hikes.
Ed Davey urges renegotiation of the EU relationship to address the damage.
Public sentiment now views Brexit as a significant economic failure.