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, you're listening to the CER podcast. I'm Beth Oppenheim and today I'm with John Springford,

the CERR's Deputy Director. Hi, John. Hi, Beth. And today we're going to be going back to the

CEO's evaluation of the cost of Brexit to the British economy so far. So, John, could you just update us?

What's your latest estimate and how does that compare to your previous estimates?

So the latest estimate is that the British economy is 2.9% smaller than it would have been if Britain had voted to remain in the EU.

That's up a bit from the last quarter which was 2.5%.

The reason for that is that the second quarter of growth in the UK

this year was pretty awful minus 0.2. And the countries that make up the kind of fake UK that we put

together, the so-called doppelganger, they grew at a faster rate than the UK, which is why it

rose. So yeah, that's where we are.

It's where we're at.

It's not looking good.

It's not looking good.

And are there any particular types of economic activity that seem to be suffering more than

others?

So, I mean, if you think about, I don't know if you did A-level economics or whatever.

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