Short-term boost may be undermined by Britain’s new trading relationship with EU

The broad optimism of Brexit-supporting economists is countered by their opponents, who are rather larger in number. John Springford, chief economist of the Centre for European Reform, said the expectation of a big improvement in the economy from Brexit was “silly”. “The story that now you’ve got certainty, investment comes flooding back [doesn’t work],” he said, “because what you’ve got certainty about is a pretty hard outcome”. This would depress activity at companies dependent on free movement of people or frictionless goods trade, he added.