UK economy looks robust, but Brexit storm will hit

London

THE British economy has not weathered the Brexit storm, contrary to the claims of avid supporters of its departure from the European Union (EU). It is just that the calm before the storm has lasted a bit longer than many had assumed.

There is no reason to believe Britain will escape serious and permanent damage to its foreign trade and investment and, consequently, living standards as a result of leaving the EU. Meanwhile, the withdrawal negotiations will be a massive distraction from Britain's substantial economic problems - lack of skills, a housing shortage, poor infrastructure, income inequality and weak corporate governance.