Britain's services exports grew 47% post-referendum, a bright spot that obscured the negative impacts on other sectors like manufacturing. This success was driven by global trends towards a service-oriented economy. However, even this thriving sector was hindered by Brexit, particularly in areas like financial services requiring professional qualifications.

The post-Brexit trade deal avoided major tariffs, but the real economic harm came from non-tariff barriers. The introduction of complex paperwork, customs forms, and 'rules of origin' created a bureaucratic hurdle that large firms could handle but forced 16,000 smaller exporters to abandon the EU market.

The UK's decline from a top global economy to a "standout weak performer" is attributed to two catastrophic policy decisions. First, implementing austerity during a decade of zero interest rates, when it should have invested for free. Second, the poorly executed economic policy of Brexit, which further hampered growth.

Brexit was sold on the fantasy that sovereignty would grant the UK immense new global choices. In reality, the UK faces the same economic challenges as continental Europe but without the scale of the EU bloc, exposing its status as a minor power.

The promise of a deregulated 'Singapore-on-Thames' post-Brexit has failed to materialize. Many EU regulations Brexiteers targeted, like the working time directive, remain UK law. This reveals that the true barriers to deregulation were not Brussels, but powerful domestic vested interests that UK politicians are unwilling to challenge.

While the UK's new government seeks to reset its relationship, the EU is preoccupied with larger issues like Russia and Trump. Brussels is unwilling to grant significant benefits without the UK accepting major obligations like budget payments and freer movement, making any meaningful rapprochement unlikely.

A primary driver of the Leave vote was to 'take back control' of immigration. Ironically, the post-Brexit Conservative government, led by Boris Johnson, presided over a massive surge in non-EU immigration. In 2023, over a million non-EU people arrived, alienating the very voters the campaign had targeted.

Contrary to the goal of forging a distinct identity, Britain has seen several social and political trends converge with European norms since 2016. This includes falling birth rates, young adults living at home longer, and stricter employment and renters' rights—mirroring a European social model rather than the deregulated, US-style economy some Brexiteers had envisioned.

The UK's rapid turnover of prime ministers, including Keir Starmer's resignation, isn't just political drama. It's a direct consequence of the country's failure to generate economic growth after Brexit, leading to public anger and institutional distrust despite having strong foundational assets.