As the United Kingdom nears the tenth anniversary of the 2016 Brexit referendum, Professor Jonathan Portes offers a sober, evidence-based reassessment of its economic and political legacy. In this ECPS interview, Professor Portes argues that Brexit did not resolve the structural problems it promised to overcome; rather, “the UK still confronts the same fundamental problems it did 10 years ago,” and, in key respects, they have worsened. Drawing on a decade of research on trade, migration, labor markets, and policy autonomy, he shows how weakened investment, reduced integration, and persistent political tensions have defined the post-Brexit settlement. Moving beyond slogans, Professor Portes situates Brexit within broader debates on sovereignty, interdependence, and populist politics in an increasingly unstable international order.
Interview by Selcuk Gultasli
As the United Kingdom approaches the tenth anniversary of the 2016 Brexit referendum, the debate has moved decisively from slogan to scrutiny, from promises of restored sovereignty to the measurable consequences of economic and political separation. In this context, the European Center for Populism Studies (ECPS) is pleased to host Professor Jonathan Portes, Professor of Economics and Public Policy at the School of Politics & Economics, King’s College London, whose extensive scholarship has been central to understanding the economic and labor-market consequences of Brexit. Throughout the past decade, Professor Portes has offered one of the most rigorous and evidence-based assessments of how trade, migration, policy autonomy, and public expectations have evolved under the post-Brexit settlement.
This interview is framed by a stark and sobering conclusion that runs through Professor Portes’s reflections: Brexit did not resolve the structural dilemmas it claimed it would overcome. Rather, as he puts it, “the UK still confronts the same fundamental problems it did 10 years ago.” The core promise of Brexit, he argues, was that it would allow Britain to escape the constraints associated with globalization, immigration, and post-2008 economic stagnation. Yet the reality has been quite different. “Rather than solving those problems,” he observes, Brexit “has probably made them worse.” In Professor Portes’s analysis, the UK remains what it always was: “a middle-sized, advanced Western European economy,”still grappling with familiar pressures, but now doing so from a more exposed and less advantageous position.
The interview explores this argument across several interrelated domains. On the economic front, Professor Portes notes that the evidence on growth, trade, productivity, and investment has broadly confirmed the mainstream pre-referendum consensus: Brexit was never likely to produce collapse, but it would impose “significant and material long-term damage”on British economic prospects. Trade, especially goods trade, emerges in his account as the most enduring site of disruption, while weakened investment and reduced integration with the European market suggest an adaptation process that may culminate in a “permanent loss of integration.”
On migration, Professor Portes offers an especially illuminating account of Brexit’s unintended consequences. Rather than simply reducing immigration, Brexit reconfigured it, replacing free movement from within the EU with larger-than-expected inflows from outside it. That outcome, he suggests, exposed a contradiction at the heart of the Leave campaign: the demand for both lower migration and greater economic flexibility under national control. More broadly, the interview shows how the promise of sovereignty often failed to produce meaningful control in practice. As Professor Portes cautions, sovereignty “in the abstract legal and political sense does not necessarily translate into having control.”
Taken together, Professor Portes’s reflections offer a penetrating assessment of Brexit not as a completed nationalist correction, but as a prolonged and costly reconfiguration of Britain’s political economy. His analysis challenges triumphalist narratives from both the sovereigntist and populist right, while posing deeper questions about the limits of national autonomy in an interdependent world.
