Jeremy Hunt admits that Brexit imposed 'costs' on British economy

UK Chancellor of the Exchequer Jeremy Hunt has agreed on the fact that Brexit has inflicted 'costs' on the economy of the United Kingdom. He, however, does not believe that the UK will become poorer because of the EU withdrawal.

Questioned by BBC reporter Laura Kuenssberg, Jeremy Hunt agreed that the economic growth would have been stronger if Brexit hadn't occurred three years ago. But, at the same time, he also blamed the global pandemic for keeping them away from the opportunities they could have gained after Brexit.

Recent reports show that the UK is the only major economy country that has not been able to retain its pre-Covid economy. Despite the figures, Hunt believes that Brexit is not the 'biggest issue' that's been holding back the economy.

Jeremy Hunt on the BBC1 Show

• Anchor and host Laura Kuenssberg interviewed Chancellor Jeremy Hunt, where he gave his opinions about the slower economic growth, Brexit, and its impacts.



• He said that a once-in-a-century pandemic took over the world just a few months after Britain had formally exited the EU.

• This meant that they couldn't make of all the opportunities available. So, although Brexit has imposed costs, it is not the biggest issue.

FAQs:

1. What is Brexit from the EU?
   It means the exit of Britain from the European Union. This occurred on 2019 October 17, 5 months before the lockdown.
2. What is the EU?
   EU stands for European Union, an economic and political union of 27 countries located mainly in Europe. It was founded in 1993.