The stock exchange ‘going down the gurgler’, a ‘hammer blow’ to the food industry, married Britons punished, and some rare Brexit upsides

The UK’s goods trade is lagging far behind the rest of the G7, while services are booming.

An honest assessment of Brexit from Fareed Zakaria of CNN... "On virtually every measure, from business investment to exports to employment Britain is falling behind its peers."

Mr Drakeford, who is stepping down next month after five years as First Minister, said Brexit had left Wales a billion pounds worse off and cut off from the rest of the world.

In this week's Brexit downsides, extra food labelling costing up to £250mn, a huge drop in overseas students, veterinary shortages in NI, and more.

The Food and Drink Federation said the 'Not for EU' labelling “poses significant risk to exports”, while polling has shown that Britons would be put off buying food with these stickers.

A new, post-Brexit trade row is looming for key U.K. industries but do ministers want to trigger fresh negotiations with Brussels? / Business groups representing U.K. energy and steel sectors are looking nervously at a potential financial cliff-edge, when additional export costs are introduced through the EU’s carbon border tax.

Almost one in five (18%) have said they are less likely to buy products labelled “Not for EU” which will be a requirement on all British meat and dairy produce from October 2024.

Food businesses sending products to the EU have had to fork out an extra £170m in export costs because of Brexit red tape, with the changes described as being “catastrophic” for some exporters. / Data shows costs have contributed to value of meat exports falling by 17% since 2019.

This paper estimates how Brexit has affected goods trade between the United Kingdom and European Union. Using product-level trade flows between the EU and all other countries in the world as a comparison group, we find a sharp decline in trade from the UK to the EU and significant but smaller reductions in trade from the EU to the UK.

The vision of post-Brexit Britain was one of international trade deals that would propel the country into a new era of prosperity. That vision of “Global Britain” is now dead. Thomas Sampson argues that the only viable alternative is a closer trade relationship with the EU.

Plaid Cymru’s Spokesperson for Trade and Business, Hywel Williams MP, has called for the UK to re-join the Single Market and Customs Union as “a vital first step to improving our moribund economy.”

Businesses that make sporting goods, children’s toys, jewellery and medical goods have struggled the most with the border costs imposed by the UK’s decision to leave the EU.

While the challenges of post-Brexit trade continue to impact businesses what will shape the culinary landscape of the North Highlands – and can the spirit of love endure?

There is a stark disconnect between promises of prosperity and the grim post-Brexit reality for the UK fishing industry, according to fishing boat owner Mark Addison. "There's been issues with queues, passports, paperwork, groupage in lorries.... which is a big problem with fresh produce like fish." says Mr Addison, speaking from Peterhead in Scotland, Europe's largest whitefish market.

Brexit has caused a crisis for British manufacturers who export into Europe – and things could be about to get even worse...

When former first minister Carwyn Jones blamed Port Talbot job losses on Brexit, some scoffed and said “No, net zero.” But he wasn’t wrong

Jacob Rees-Mogg, once the minister for Brexit opportunities, is still struggling to wrap his head around the realities of the UK’s withdrawal from the European Union four years ago this month, as he’s now been properly educated on its impact on farmers during an interview on his GB News show on Wednesday.

Salmon Scotland, the trade body that represents the industry, has expressed its frustration over ongoing red tape which has now cost an estimated £12million extra since Brexit.

City Comment: The rest of the world still does not know what to make of an “independent” Britain… and is largely giving it the swerve.

British businesses are warning of a new wave of post-Brexit trade disruption because EU exporters are not ready for UK customs changes which start this month, and Britain's port infrastructure might be unprepared too.

Though Johnson promised ‘no non-tariff barriers’, firms say they are struggling under ‘compliance burden’ of customs and safety checks.

Those sunlit uplands, eh? Another Brexit blow has been delivered to UK exports, and the cheese industry now faces upheaval.

Exports to the EU from Scotland slumped by up to 25% two years after Brexit as trade with the rest of the UK rose, it has been revealed. / Scottish Government estimates show that the value of Scotland's exports has slumped by nearly £2bn since the UK exited the EU from £16.950bn in 2019, to £14.970 in 2021 - a 12% drop in two years.