😲 The OBR asserted that Brexit barriers would result in a 15% drop in trade, contributing to a 4% lower GDP in the long run.
🤔 If Brexit had significantly impacted UK-EU trade, we would expect to see a divergence between British trade with the EU compared to non-EU countries.
🇪🇺🇬🇧🌍 However, the data shows that UK-EU goods trade patterns closely matched UK non-EU trade.
📊 It's the same story whether you look at nominal or inflation-adjusted trade figures — there is no discernable evidence of a Brexit effect.
"The Chancellor has decided to alleviate the impact of price rises rather than try to fight inflation.
"Cuts to fuel duty and income tax are very welcome, as is raising the National Insurance threshold, but they come at the cost of yet more borrowing.
"There are no easy solutions and Sunak’s admission that the UK will pay £83 billion servicing the national debt in 2022/23 shows that there is no cheap money.
Authored by the IEA’s Head of Lifestyle Economics @CJSnowdon, ‘Short term impact of minimum pricing of alcohol in Scotland’ uses new data from the @ONS to show that there is no evidence that minimum pricing has created a step change in the rate of alcohol-related harm in Scotland
Advocates of minimum pricing predicted that it would have an almost immediate impact in Scotland, with modelling forecasting 58 fewer deaths and 1,299 fewer hospital admissions in the first year. iea.org.uk/publications/S…
In the eight months after minimum pricing was introduced, alcohol-related mortality fell at the same rate in Scotland as it did in England and Wales (seven per cent).