Sterling slump won’t rescue the British economy

Globalisation and the development of the EU’s single market have led the UK to specialise in services exports, many of which form part of EU supply chains. This has made the UK economy more efficient and raised GDP, but it has made British exports less sensitive to devaluations. The falling pound will not produce the export boom Brexiters hope for, while British consumers will become poorer as the price of imports rise.

• Primary Source

ESO: Background information: The impact of Brexit on the UK’s key export sectors http://www.europeansources.info/record/the-impact-of-brexit-on-the-uks-key-export-sectors/

ESO: Background information: Brexit Britain: the poor man of Western Europe? http://www.europeansources.info/record/brexit-britain-the-poor-man-of-western-europe/

ESO: Background information: The economic consequences of leaving the EU: the final report of the CER Commission on Brexit 2016 http://www.europeansources.info/record/the-economic-consequences-of-leaving-the-eu-the-final-report-of-the-cer-commission-on-brexit-2016/

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