How is Brexit going? According to a major supermarket boss, not very well.
It comes as the UK economy is facing a shortfall of 300,000 workers due to ending the freedom of movement since Brexit, reports The FT.
The UK in a Changing Europe and the Centre for European Reform think-tanks said that the ending of free movement was constricting the UK economy, leading to labour shortages in various sectors.
Jonathan Portes, professor of economics and public policy at King’s College, London, who co-authored the report, said the shift in migration patterns was “a feature, not a bug”.
Portes also added: “The longer-term impact on the UK labour market will be profound.”
Asda
With that in mind Lord Stuart Rose the Chair of major supermarket chain Asda appeared on LBC.
He was asked by presenter Nick Ferrari: “What has the impact ofBbrexit generally been on business in the UK?”
Rose replied: “It’s been catastrophic… we are the only economy in the G7, possibly the G20, who have not yet recovered to pre-covid levels, that tells you something.”
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