Brexit: why the UK economy hasn’t led to buyer’s remorse

The recession meant to make leave voters regret decision has failed to materialise – with majority of people having moved on

We’ve all been there: that moment when you get home and realise you didn’t want that new jumper and couldn’t really afford it either. It is known as buyer’s remorse, and it was a concept that gave the remain camp comfort as it reeled from the shock of defeat in the EU referendum vote in June 2016.

In the context of Brexit, buyer’s remorse meant that people who had voted to leave would quickly regret what they had done because the economy would plunge instantly into the stonking recession predicted by the Treasury in the run-up to the plebiscite. Project Fear was actually Project Reality, it was said, and before too long Brexit voters would be clamouring for the chance to think again.

Related: Good for factories, bad for shoppers: a Brexit pattern is emerging

The absence of economic Armageddon has simply reinforced the lack of trust in expert forecasters

Related: UK economy in 2018: steady growth tempered by Brexit politics

Related: UK companies will face huge new VAT burden after Brexit

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10 Sunday Reads

My easy like Sunday morning reads: • Fewer Listed Companies: Is That Good or Bad for Stock Markets? (Wall Street Journal) • When finance becomes a beneficiary of the green agenda (FT Alphaville) • 5 Top Small-Business Posts of 2017 from The Experts Blog (The Experts Blog) • How Actual Smart People Talk About Themselves – Hint: not by discussing IQ (Atlantic)…

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A new high street can’t save a town – but jobs and trains will

Revamping shops to prop up a town centre is the wrong approach: retailing will improve on its own if cities can attract employers or prosperous commuters

If Christmas showed us anything, it is that the high street is dying in most of our towns and many of our cities. Figures emerging from the main high-street shops covering the Christmas trading period show that a combination of falling disposable incomes and internet shopping seriously dented sales.

Next was one of the first fashion retailers to reveal that its festive cheer had all been online, where sales rose 13.6%. Its high-street stores suffered a 6.1% slump.

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