Brexit caused this political instability? Surely not!

Hard to believe, but it's been ten years, almost to the day, since the fateful Brexit vote, and the start of Britain's "messy divorce" from Europe.

Whatever Reform UK might tell you, it hasn't gone well. Best estimates (by the independent US-based National Bureau of Economic Research) suggest that Brexit has reduced Britain's GDP by 6-8%, investment in the country has slipped by 12-18%, and employment and productivity have both fallen by 3-4%, all as a direct result of Brexit. Not pretty.

Then, yesterday, we hear that yet another Prime Minister has resigned, despite winning a landslide electoral victory just two years ago. That makes it the sixth prime ministerial resignation in ten years, and soon the UK will have its seventh Prime Minister in that relatively short but tumultuous time.

As my brother-in-law deadpanned, "I wonder what could have caused such instability?"