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UK Unlikely To Join EU In Near Future: Odds Analysis

Brexit divided Britain in 2016, with a narrow majority voting to leave the EU, leading to years of uncertainty as successive governments tried to make the system work.

While divisions remain over Britain’s future in Europe, the latest odds from bookmakers suggest a return to the EU is off the table, at least for now.

Betfair Offer Odds of 7/1 For The UK

Betfair offer odds of 7/1 for the UK to join the EU as a full member before 2026, against 1/20 for it to stay out. Sam Rosbottom, spokesman for Betfair, said: “Three years on from the UK’s formal exit from the European Union, it does not look like Brexit will be reversed anytime soon, with odds of 7/1 for a re-accession within the next two years.

“Recent polls show an increase in people saying Brexit was a mistake, but that hasn’t changed the odds, and if the chances of EU membership again in the next 10 years improve to 2 /1, it is 1/3 very likely that there will be no British representation in the European Parliament during this period. »

The news comes as the International Monetary Fund announced today that the UK will be the only major economy to shrink in size in 2023, performing worse than sanctions-hit Russia.

The idea that leaving the EU has made the UK’s economic problems worse is widely held, and a report by the Center for European Reform published in December seems to support this view. He calculated that Brexit has reduced Britain’s GDP by 5.5% by the second quarter of 2022. He also says leaving the EU has “inevitably” led to tax hikes for UK households as governments attempt to increase funds for public services.

However, Brexit supporters have been quick to point out that leaving the European Union has brought benefits to the UK, including avoiding being tied to EU laws that affect member states.

Speaking of the anniversary, Prime Minister Rishi Sunak said: “This is just the start of our plans to unleash growth and prosperity, and I am determined to ensure that the benefits of Brexit continue to deliver. power to communities and businesses across the country. »

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