Debate over austerity and Brexit as drivers of Britain's sluggish growth

In a recent opinion piece, the writer disputes the view that austerity and Brexit are to blame for Britain's stagnant growth, emphasizing that real public expenditure changed little between 2010/11 and 2019/20. He highlights that early-2010s fiscal restraint helped stabilize public finances after the global financial crisis and coincided with productivity improvements in public services. Retaining monetary sovereignty, the author says, prevented a Greek-style collapse, though future borrowing costs could rise if fiscal credibility wanes.

Regarding Brexit, the article asserts that leaving the EU has saved billions in contributions, restored legislative control, and enabled targeted subsidies and animal-welfare measures, while also allowing new trade agreements such as full access to the CPTPP. The author concludes that Brexit's overall economic impact has been modest so far and will depend on future policy choices.