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Starmer Quits, Brexit Costs Half UK GDP, Growth 0.8%

6/23/2026

39 6 Full Breakdown

Summary

Story summary

Keir Starmer resigns after two years, leaving the UK poised for a sixth prime minister in seven years.
A National Bureau of Economic Research (NBER) study says half of UK's GDP loss since 2016 stems from five-year Brexit uncertainty.
Inflation-adjusted pay rose less than 1% to £494 while taxes hit high.
The International Monetary Fund (IMF) forecasts UK growth of 0.8% this year because energy prices stem from the Iran war.

History

Historical Context

In June 1975 the Wilson-led Labour government held Britain’s first nationwide referendum, asking whether to stay in the European Communities. With a 64% turnout, 67% of voters approved continued membership, giving a majority of about 8.9 million votes. The decisive result anchored pro-European politics for decades, a legacy echoed in today’s Brexit-driven economic uncertainty.

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Story summary

Keir Starmer resigns after two years, leaving the UK poised for a sixth prime minister in seven years.
A National Bureau of Economic Research (NBER) study says half of UK's GDP loss since 2016 stems from five-year Brexit uncertainty.
Inflation-adjusted pay rose less than 1% to £494 while taxes hit high.
The International Monetary Fund (IMF) forecasts UK growth of 0.8% this year because energy prices stem from the Iran war.

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