UK media cite a study by a think tank and London School of Economics:

  • “The full effect of the TCA will take years to be felt but this move towards a more closed economy, say the authors, will make the UK less competitive, which in turn will reduce productivity and real wages.
  • “The research estimates that labour productivity will be reduced by 1.3% by the end of the decade by the changes in trading rules alone.
  • "This will contribute to weaker wage growth, with real pay set to be £470 per worker lower each year, on average, than it would otherwise have been.”
boris johnson

Not good news for working people in the UK. They are already being hit by skyrocketing fuel prices and higher interest rates.