Brexit has cost UK economy 6% of potential growth, Bank of England data analysis shows
By
Faisal Islam
Summary
Economists analyzing internal Bank of England data on thousands of British companies found that Brexit has cost the UK economy approximately 6% of its potential growth since the 2016 referendum. The study reconstructed how the UK would have grown had it remained in the EU, revealing significant economic losses from the decision to leave.
Source
bskyBrexit has cost UK economy 6% of potential growth, Bank of England data analysis showsbbc.comKey quotes
· 2 pulledThe UK economy has taken a 6% hit from the effects of Brexit, according to economists' analysis of internal Bank of England data
Examining data that the Bank uses to decide on interest rates, the study analysed lost growth by trying to reconstruct how the UK would have grown if it had not exited the EU.
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