From the Centre for European Reform, this is the CEO podcast.

It is a critical moment. If we do not act with urgency, we would then severely undermine the liberal order.

Brexit means Brexit, and we're going to make a success of it.

The wind is back in Europe's sales.

We have now a window of opportunity, but it will not stay open forever.

Hello and welcome to the CER podcast.

I'm Beth Oppenheim and I'm a researcher here at the CER.

And today I have with me John Springford, who's the CER's deputy director.

And every quarter of the CER will evaluate the cost of Brexit to the British economy so far.

So in the first quarter of this year, that figure was at 2.1% of GDP, which is a sharp contrast to the pledge of

£350 million for the NHS on that fateful red bus. So how are things looking now? So as you said,

Beth, that was the cost of Brexit to the first quarter of 2018. We're having to do this on a bit

of a lag because it takes

time for the data to come through. So we now have the data for the second quarter of 2018, i.e.

to June. And we've changed the model a little bit, but not in a way that changes the overall

figures particularly. And the cost of Brexit to June 2018 was about two and a half percent of GDP.

So the economy, had we voted to remain, would be about two and a half percent bigger than it is now.

Okay. So unsurprisingly, for such a fraught topic, you've received some comments and some

criticisms on your modelling, which you took very well.

Thank you. So how have you responded to the feedback you've received? Have you revised the model?

Have you run tests? What have you been up to? Yes, is the answer to that. Yes, we have revised the

model. So obviously we got some feedback

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