Northern Ireland output mysteriously leaps to 15-year high

Northern Ireland output is at a 15-year high and just 0.1 per cent below the record output level recorded in the middle of 2007, official figures from Nisra suggest.

The economy continued to grow in the first quarter of 2022, with output up by 7.8 per cent on the same period a year ago.

In mainland UK, conversely, new government analysis has shown that the split with the European Union will cost £100 billion over the long-term in lost output.

The Office for Budget Responsibility says Brexit will have a long-term effect of cutting UK GDP by a hefty 4 per cent, an estimate unchanged since early 2020.

The Financial Times says such a decline amounts to £100 billion in lost output, and £40 bilion less revenue to the Treasury a year.

Funnily, you won’t find any mention of that in this BBC report.

Jack Peat

Jack is a business and economics journalist and the founder of The London Economic (TLE). He has contributed articles to VICE, Huffington Post and Independent and is a published author. Jack read History at the University of Wales, Bangor and has a Masters in Journalism from the University of Newcastle-upon-Tyne.