£100bn per year, that's the figure that a recent
study by Bloomberg calculated is the cost of the
lost growth caused by Brexit; The equivalent of two 2008 recessions hitting the UK at the same time.
This website, costofbrexit.com, was set up in response to provide an easy-to-understand example of how we could have invested this figure into the UK. Even so, the economy in reality is more complex and often experiences downturns less linearly than this website is simulating and is more than likely worse than the scenario we are showing here.
This is because when the economy starts shrinking; people start cutting back which only causes it to shrink even faster. It's for this reason that when more data comes in from the real world we will update this counter and you can always see our sources here.
So what's behind this lost growth? Put simply, Red tape and not the kind you use to wrap a birthday present. It's this that is affecting every aspect of British Life from Businesses unable to hire workers to the increasing cost of living partially caused by the drop in the value of the pound.
But we by no means have to accept this cost. There are in-fact things that we could reverse to reduce the cost of Brexit even whilst being outside of the European Union, for example:
There are unfortunetly too many to list and, with the retained EU law bill being debated in parliament, is only going to get worse. In fact MPs are already begining to discuss how they can #ReduceTheCost of brexit.
This is a TechForUK project. TechForUK is a non-profit organization which consists of technologist, developers and other volunteers from the tech industry to build products and solutions in the national interest. Feedback? Send it to us