Economy

The billionaire businessman Guy Hands has accused the Conservatives of putting the UK “on a path to be the sick man of Europe”, as he issued a series of stark predictions about what could lie ahead for the post-Brexit economy, including higher taxes and interest rates and fewer social services.The founder and chair of the private equity firm Terra Firma, a longtime Tory supporter, called for the government to “renegotiate Brexit”, stating that otherwise the British economy was “frankly doomed”.The Conservative party needed to “move on from fighting its own...

Tory plans to scrap most EU laws by the end of 2023, to show that Brexit is being delivered, risk causing untold legal chaos and yet more damage to British businesses, according to the former head of the government’s legal service.With the country still reeling from the effects of Liz Truss and Kwasi Kwarteng’s disastrous mini-budget, ministers are facing mounting opposition from business groups, environmentalists, legal experts, unions and opposition parties to what is being described as another dangerous, ideologically driven experiment by pro-Brexit Tory rightwingers.Last night Jonathan Jones, who...

Those who would blame Brexit for most of Britain’s ills have struggled to come up with unequivocal figures to support their cause. The pandemic muddied the economic waters and gave supporters of leaving the European Union space to argue that remainers had overplayed their hand.But as Christmas approaches, and with it the second anniversary of the UK’s exit from the single market and customs union, it is clearer than ever that the Brexit project is accelerating a long decline in the UK’s ability to pay its way in the world.Whether...