Mr Watt shared his sentiments in a recent interview with Bloomberg. He emphasised the difficulties now faced by his business, primarily resulting from exporting beer to European customers. Mr Watt stressed that Brexit had “massively handicapped UK companies that do business in Europe”, bringing no discernible benefits.

The escalating financial challenges related to the UK’s departure from the EU, such as higher and more persistent inflation compared to EU nations, are proving a substantial hurdle for UK businesses. These issues, Mr Watt argued, are direct consequences of the “catastrophic decision” to leave the EU.

These sentiments echo recent warnings about Brexit’s impact on the economy. Former Bank of England governor Mark Carney highlighted Brexit’s role in causing “a weaker pound, higher inflation, and weaker growth”. The Office for Budget Responsibility further forecasted a 4% hit to the UK’s GDP and a 15% decrease in trade intensity due to Brexit.

Research findings have indicated that Brexit added £7 billion to UK food bills, making households on average £250 worse off. Bloomberg Economics’ analysis further demonstrated Brexit’s substantial cost to the UK, with an estimated £100bn a year in lost output. These economic realities, according to Mr Watt, have made it almost 40% costlier to produce beer in the UK than it was 18 months prior.