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Renewing EU membership could further strengthen the pound and deliver for UK consumers, campaigners highlight.
Photo: Shutterstock
New reports have revealed the pound has risen to its highest overall level since the Brexit referendum in 2016. The value reached 86.4 on an index where 100 equals the value in 2005.
The value of sterling fell significantly after the Brexit referendum and reached further lows during the Brexit process, the Covid pandemic and the 2022 mini-Budget.
Tom Brufatto, Policy and Research Director at Best for Britain, which campaigns for the UK to restore its place at the heart of Europe, said:
“The UK’s weak pound has been a painful consequence of Brexit: hiking the price of imports, worsening soaring inflation, and hitting voters in their wallets amid the cost of living crisis.
“It’s long been predicted that signalling our intention to rejoin our closest and largest market would begin to reverse this effect, and what’s now clear is that the increasingly warm UK-EU relationship is having a positive impact on the markets – in deeply welcome news for hard-pressed consumers. Just imagine what could happen if we made it official.”