Brexit News: Finance Expert Highlights Four “Most Important” Changes Outside the EU | United Kingdom | News

Brexit News: Finance Expert Highlights Four “Most Important” Changes Outside the EU |  United Kingdom |  News

Secondly, he explained how ending the limitless supply of cheap labour that EU countries provided had finally started benefitting ordinary workers. And even in the decade before the Brexit vote the amount of trade the UK did with the EU had been declining, the columnist and author revealed.

Brexit has also prompted the UK to move away from low-value, low-skilled work which is starting to shift out of the country “mainly because it doesn’t have access to cheap labour anymore”, he claimed.

Mr Lynn said that wages were rising at eight percent on average a year and up to 20 percent in certain industries.

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“It may seem like only yesterday that the UK voted by a narrow margin to leave the European Union. In fact, it was five years ago on Wednesday.

“We only finally left, in the sense of severing control from Brussels, at the start of this year.

“And yet, in truth, Brexit has already transformed the British economy. Like how?

“We can all argue – and no doubt will – about whether that is for better or worse. Yet there can be no question the country is now set on a very different path.”

“We are witnessing a shift back to our historic trading patterns; wages are starting to accelerate upwards; our industrial base is changing; and we are finally creating a regulatory regime that works for the UK.

Mr Lynn, who wrote Bust: Greece, The Euro and The Sovereign Debt Crisis, spoke as it emerged that Project Fear-backing firms were continuing to invest in the City of London.

US banking giants Goldman Sachs and JP Morgan are both expanding their UK operations – despite warning about the economic havoc that Brexit would wreak.

Elsewhere, Dutch campaigners demanding that the Netherlands follows the UK and quits the bloc are becoming increasingly vocal.

Nexit Denktank campaigners have accused Brussels of leaving Dutch citizens poorer after a survey revealed that the average resident has a net worth of less than £7,000.

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