The pessimism surrounding the UK’s departure from the EU was unjustified, says Ambrose Evans-Pritchard in the Telegraph. As the UK economy bounces back strongly from the pandemic, defying gloomy predictions by the OECD and the IMF, and managing to reach pre-Brexit export levels to the EU, the EU instead has begun to lose its share of the UK market to global competitors and is wallowing in a third wave of Covid infections.

IEA Economics Fellow Julian Jessop was quoted in the article, arguing: “People were far too pessimistic about the magnitude of the hit. The idea that there was going to be a seismic fall in trade after Brexit was always rubbish. Companies adapt“.

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