Mollygo
WWM2
Whilst I agree that it is not likely to happen very soon, I do think that the U.K. would indeed be welcomed back into the EU, but not on the very favourable terms that we had prior to leaving.
Favourable terms. Hmm yes, circa 17 billion contribution we made to the EU, though we did get around 4billion back.
^In 2020 the UK made an estimated gross contribution (after the rebate) of £17.0 billion. The UK received £4.5 billion of public sector receipts from the EU, so the UK’s net public sector contribution to the EU was an estimated £12.6 billion.
On that basis, we could well be welcomed back, because I’m sure they’ve missed that money from us.
Indeed, people we met in EasternEurope e.g. Romania last year were full of praise for all the money they receive from the EU to rebuild their country.
They were sorry we’d left the EU.
NB I expect the EU would charge us extra for changes they’ve had to make e.g. for all the faffing about they’ve had to set up with passports at customs etc.
The consensus among economists and research institutions is that the UK was generally better off economically as a member of the EU. Studies estimate that Brexit has reduced UK GDP by around 2-6% compared to if it had remained in the EU, with the impact expected to grow over time.
Key points include:
Brexit introduced new trade barriers and regulatory hurdles with the EU, the UK's largest trading partner, reducing trade efficiency and raising costs for businesses.
UK exports to the EU have declined notably more than imports from the EU, increasing trade friction.
The UK's GDP per capita was estimated to be 8-10% higher under EU membership according to some studies.
Economic growth post-Brexit has been slower compared to projections made if the UK had stayed in the EU, partly due to reduced investment and labour shortages.
However, some argue Brexit offers potential long-term benefits from regulatory independence.
In summary, while some sectors and regions have adapted, the overall economic data shows the UK has experienced slower growth, trade disruption, and a reduction in GDP since leaving the EU, implying it was economically better off as a member