Almost seven years after the UK’s Brexit vote, the recently signed Windsor Framework attempts to solve one of the most gnarly post-Brexit problems. The Framework, signed with the EU, aims to remove Brexit checks on goods entering Northern Ireland from the rest of the United Kingdom. These checks created barriers to trade within the UK internal market.
The deal will help to smooth the flow of internal UK trade, but do little to mitigate the impact of Brexit on trade with the EU. On that, the data is clear. Post-Brexit, the UK is trading less with the EU, with pronounced implications for wider economic performance.
“The economy of the United Kingdom has seemingly gone from bad to worse over the course of 2022 and will stay the worst performer in 2023 among the Group of Seven (G7) large industrial economies,” says Dana Bodnar, an economist at Atradius.
The post-Brexit landscape
