Brexit economic losses could have transformed the NHS, economist warns

Stanford University economist Professor Nick Bloom has stated that Brexit has reduced the United Kingdom's economy by between 6% and 8% of its GDP. This contraction, driven by weakened trade, increased bureaucracy, and prolonged political uncertainty, has cost the average British citizen approximately £3,000 per year.

Bloom argues that these lost economic resources could have fundamentally transformed the National Health Service (NHS). He suggests that if the lost GDP were redirected to healthcare, the NHS budget could increase by roughly two-thirds. Such a funding boost could potentially eliminate waiting lists, facilitate hospital refurbishments, and provide better pay for doctors and nurses.

These findings directly challenge the 2016 Leave campaign's assertion that exiting the European Union would free up £350 million per week for the NHS, a claim Bloom described as “exactly and perfectly wrong.”