Despite the UK Government's previous statements and current position, the Secretary of State for the Department of Work and Pensions, Mel Stride today confirmed that 'friction' with the EU due to Brexit has had impact on UK economy.

Mr Stride was speaking on BBC World at One and after being challenged with comments from former CBI chief and current chairman of the International Chamber of Commerce Paul Drechsler. Mr Drechsler said that Brexit has shredded the UK's global reputation as a good place to do business. 

After admitting that Brexit had impacted the economy, the Pension Secretary suggested that he could see benefits "coming through" but did not expand on what these were.

Analysis from Bloomberg economics suggests that Brexit alone is costing the UK economy £100bn per year in lost output. Meanwhile researchers at LSE concluded that leaving the EU added £210 to the average annual UK food bill in the 2 years to the end of 2021.

Naomi Smith, Chief Executive of internationalist campaign group Best for Britain said,

“People were told in no uncertain terms that Brexit would make their lives better but instead it has caused unnecessary hardship for millions, crushed businesses and cost our country billions.

“This belated admission will have a bitter taste for the public particularly while Mr Stride’s Cabinet colleagues continue to claim the exact opposite. In the national interest politicians must start being honest about Brexit and urgently begin repairing the damage."