The parallels between Brexit backers and Trumps supporters is clear. Trump's campaign targets manufacturing towns across America, frequently expressing the need to reject globalism and put ''America first''. In Britain, there has been similar talk of finally putting the UK ahead of Europe from the Leave campaign.
Both Trump's campaign and the Leave campaign promote economic protectionism and rile up fears of an immigrant invasion that would take away jobs and lead to freeloading off the social services system. It follows that it looks like citizens in the UK were willing to damage their economic stability in exchange for protectionist policies and more sovereignty. The Centre for Economic Performance analysis of Brexit predicts a 1.3%-2.6% fall in the average UK income, with the overall GDP dropping £26 to 55 billion.
This article was published online by Forbes on June 24, 2016
Link to article here
Related publications
See the complete set of CEP Brexit Analysis research papers here
Related links
Swati Dhingra webpage
Holger Breinlich webpage
Hanwei Huang webpage
Gianmarco Ottaviano webpage
Thomas Sampson webpage
John Van Reenen webpage
Trade Programme webpage
Growth Programme webpage
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