Advertisement

Record number of voters now think Brexit was a bad idea

The UK is set to lose a lot of trade with the EU because of Brexit. (Getty)
The UK is set to lose a lot of trade with the EU because of Brexit. (Getty)

A record number of Britons think Brexit was the wrong decision, new polling has shown.

According to YouGov, a third of Brits (32%) think it was right to leave the EU, while a majority (56%) say it was wrong.

This is the lowest percentage YouGov has ever recorded for people who think it was right to leave and the highest who think it was wrong.

A record one in five (19%) of those who voted for Brexit now say it was the wrong decision.

Nine in 10 people who voted remain say it was the wrong decision.

Watch: Poll reveals public support for Brexit at all-time low

Read more: ‘Simply staggering’ hit to living standards coming next year, top economist warns

YouGov has been regularly polling people's views on Brexit since the referendum and people who think it was right to leave were a majority until the 2017 election.

Since then, a steadily increasingly proportion the country is regretting the outcome of the vote.

On Thursday, chancellor Jeremy Hunt unveiled a steep increase in taxes and heavy spending cuts over the next few years in his autumn statement.

Despite being a major political and economic change, Brexit was barely mentioned by the chancellor or by the shadow chancellor, Rachel Reeves.

However, the economic forecast by the Office for Budget Responsibility (OBR) that came alongside the budget said Brexit would have a negative impact on the economy.

Jeremy Hunt announced significant spending cuts and tax hikes on Thursday. (PA)
Jeremy Hunt announced significant spending cuts and tax hikes on Thursday. (PA)

Read more: Cost of living: Timeline, key dates and deadlines of payments in the coming months

The OBR said Brexit contributed to reducing trade volumes and business relationships between UK and EU firms.

Trade was also hit by slowing global economic growth, the OBR’s economic and fiscal outlook said.

“Near-term growth in exports and imports is lower than in our March forecast as slowing global GDP (gross domestic product) growth hits exports and a weaker outlook for consumption and investment weighs on imports,” the OBR said.

"Our trade forecast reflects our assumption that Brexit will result in the UK’s trade intensity being 15% lower in the long run than if the UK had remained in the EU.

"The latest evidence suggests that Brexit has had a significant adverse impact on UK trade, via reducing both overall trade volumes and the number of trading relationships between UK and EU firms."

The OBR document also forecast payments of £18.9 billion to Brussels under the terms of the Brexit divorce deal between 2022-23 and 2027-28.

A former Bank of England policy chief told Bloomberg this week that such a drastic budget would not have been needed if Brexit had never taken place.

Trade and productivity have taken a hit because of Brexit. (Getty)
Trade and productivity have taken a hit because of Brexit. (Getty)

Michael Saunders said: "It’s reduced the economy’s potential output significantly, eroded business investment."

He added: "If we hadn’t had Brexit, we probably wouldn’t be talking about an austerity budget this week. The need for tax rises, spending cuts, wouldn’t be there, if Brexit hadn’t reduced the economy’s potential output so much."

Although The Conservatives and Labour avoided mentioning Brexit during the Commons debate on the budget on Thursday, other parties were keen to point it out.

Green MP Caroline Lucas said: "Huge elephant in the room is Brexit. Hunt didn't once mention how it's contributed to 4% productivity drop, 15% trade drop, 6% food price increase, lower wages, workforce shortages & highest inflation in G7. Why won't Government call it out?"

SNP shadow chancellor Alison Thewliss said: "Brexit suspiciously absent from both the Chancellor's statement and Labour's response.

"As long as unionist parties are wilfully blind to the economic problems we face they cannot offer a solution. Scotland deserves better."