Ten years on from the Brexit vote, Wales finds itself in a reflective mood, questioning the changes and promises it embraced back in 2016. On the anniversary of this pivotal decision, Wales’ First Minister, Rhun ap Iorwerth, didn’t hold back, calling Brexit “the greatest act of economic self-sabotage in modern history.” Claiming the misleading campaigns led by figures like Nigel Farage have left the UK diminished, he put a staggering £4 billion price tag on Brexit’s economic impact in Wales.
Back in 2016, Wales voted 52.5% in favour of leaving the EU, envisioning a brighter future. But according to recent polls, public sentiment has shifted, with many now believing the decision was wrong. In areas like Blaenau Gwent, which famously supported Brexit, some locals are feeling let down. Retired planning officer, Raymond Rowland, simply put it, “I think we’ve been let down.”
Looking back, Wales’ trade relationship with the EU has been rocky post-Brexit. A drop in trade volume with the EU is evident, with many smaller businesses struggling to adapt to new regulations. Professor David Pickernell from Swansea University noted that Brexit has put Wales in “the worst of all possible worlds,” impacting exports and foreign investments negatively, particularly in sectors like agriculture, which Wales relies on heavily. The changes have made Wales less appealing for foreign direct investment, a significant blow to its economy.
On a hopeful note, the First Minister is advocating for new opportunities, fostering stronger ties with fellow Celtic nations, and reinvigorating trade and cultural exchanges with the EU. For him, it’s essential the next generation isn’t burdened by past decisions, highlighting that mobility breeds opportunity. The path forward isn’t easy, but as the narrative around Brexit evolves, so does Wales’ determination to carve out its place on the global stage.
What’s your view? Share your thoughts on the impact of Brexit over the past decade, and let’s discuss the future of Wales and its place in the world.