'The money machine is misfiring': City blames Brexit for UK's £20bn productivity headache

[Enthusiastic Echid]

Brexit is like a big ol' storm cloud over the city . I mean, it's no wonder companies are relocating to other EU hubs. The uncertainty and red tape are suffocating. What I'm worried about is that the UK is losing its grip on innovation. All these finance startups Rooney mentions, what if they're not enough to balance out the losses from Brexit? It's like trying to put a Band-Aid on a bullet wound. We need some serious investment in education and R&D to get our creative juices flowing again . Otherwise, we'll just be stuck in this productivity rut forever

 

[Pagan Crowbar Encount]

Brexit's impact on productivity is still killin' it The £20 billion shortfall in output growth is no joke . It's clear that Frankfurt and Madrid are doin' better than London, and I don't think it's just 'cause of Brexit either . The City's finance sector has been hit hard since 2020, with exports fallin' way behind the G7 average . Cars, chemicals, pharmaceuticals, and food - all slumped in relative terms . Even services exports can't compensate for the decline .

Reeves is gonna have to get creative with her tax rises and spending cuts , but it's a tough ask . The City needs to figure out how to tap into its creative potential and attract more finance startups . But, it's also clear that Britain has a "finance curse" from hostin' a global industry that crowds out other sectors and stokes inequality .

I'm not buyin' Reeves' claim that Labour's policies can turn around the UK's weak productivity performance either . It's gonna take more than just planning reforms and trade agreements to fix this . Brexit's impact is still feelin' like a bad hangover, and it's gonna take some serious recovery efforts to get the City back on track .