Has Brexit been good for the UK?

A recent history…

Countdown to Brexit
(drawn from https://commonslibrary.parliament.uk/research-briefings/cbp-7960/)

• June 2016:
  Referendum. Vote in favor of leaving the European Union.
  
  
• March 2017:
  UK formally triggers Article 50 and begins the two-year countdown to the UK formally leaving the EU. Article 50 extended a couple of times.
  
  
• 31 January 2020:
  UK leaves the EU and enters a transition period
  
  
• 31 December 2020:
  Transition period ends. UK leaves the EU single market and customs union.

Then came Covid

• The last pre-Covid quarter was 2019Q4.
• Covid-19 appeared in 2020Q1.

How has Britain’s economy performed relative to others?

In terms of economic growth, not so great.

Since the beginning of the pandemic, UK’s GDP has fallen by 0.4%, while the US, the Euro area and major European economies have done better. The US economy has grown the fastest of all.

However, in terms of inflation, Britain has done better than most other countries.