EU Referendum - the economics of change

I have seen so many different estimates as to the impact of Brexit on the UK economy ranging from unrealistically hopeful – that it will lead over time to a 10 pct increase in living standards – to the downright gloomy, building in an extended period of lost output as a result of a protracted recession. The truth of the matter is that it is absolutely impossible to make these claims without also making all sorts of assumptions, and not just about future UK’s relationship with Europe. How successful the UK will be in negotiating trade arrangements with the rest of the world in this new environment is anyone’s guess. It would, meanwhile, really be a leap in the dark to assume the likely direction of future government policies and indeed, just how effective these may be. For what it is worth, OECD analysis cast some doubt on the suggestion that either regulatory or employment laws emanating from Brussels are major factors inhibiting British business.Against that ba