Former Goldman Sachs chief economist calls Brexit a 'colossal economic shock' worse than Iran crisis
By
Jordon Scott
Crackling crust, pillowy middle. The kind of bagel that earns a second cup of coffee.
Summary
Lord Jim O'Neill, former Goldman Sachs chief economist and ex-Conservative Treasury minister, has described Brexit as a "colossal economic shock" causing more permanent damage to the British economy than the Iran war energy crisis. Speaking on LBC, O'Neill argued that Brexit's negative economic impact outweighs the disruption from Middle East conflicts and predicted that Labour will eventually include rejoining the single market in their manifesto.
Key quotes
· 3 pulledBrexit is a 'colossal economic shock' that is causing 'more permanent damage' to the British economy than the Iran war energy crisis is likely to produce.
It is causing more permanent damage to Britain than the Iran war energy crisis is likely to produce.
Labour will eventually put single market rejoining on their manifesto.
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