This latest podcast focuses on the issues facing Britain following its exit from the European Union. The podcast was recorded prior to the outbreak of the coronavirus pandemic, which has dramatically changed the outlook for the UK and global economy, but many of the broader issues discussed including the effect of lower immigration and regional disparities within the UK will remain relevant for years or decades.
Here is an edited transcript of some of the introductory podcast discussion:
Michael Kitson: “There is much uncertainty regarding the UK’s relationship with Europe, and much uncertainty as to how the UK will fare in the future.”
Jaideep Prabhu: “Under the scenario of a hard Brexit, if we assume that’s how Britain is going to look, we won’t have easy access to the EU market, so it’s very hard to see how there will any positives in the short and medium term. There will have to be realignment of the UK economy toward other markets.”
John Gourd: “What has been brought to businesses over the past couple years is uncertainty. Businesses over the past couple of decades have seen European markets as contributing to growth, and have focused on that, but over the past couple of years they’ve not necessarily known where we’ll be and where they should readjust their target sights.”
Mia Gray: “There are other important issues as well, including immigration and especially low-skilled immigration that we’ve been dependent on, and how that will play out – both in the economy at large and also regional economies, city by city, region by region. There are also questions about investment, and the restructuring of supply chains.”
Image: L-R: Jaideep Prabhu, John Gourd, Mia Gray, Michael Kitson.
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