‘Productivity is also down as a result of Brexit, along with a ‘permanent reduction in the willingness to invest’ in the United Kingdom’
Brexit has had a disastrous impact on the UK economy and could leave each person up to £2,300 worse off, new data has suggested.
The decision to leave the EU has had a major impact on UK economic performance, with the
OBR estimating that the economic hit caused by Brexit to the UK economy will mean GDP is reduced by 4%.
Now new data from the National Institute of Economic & Social Research (NIESR), shows that UK GDP is estimated to be 3% lower as a result of Brexit.
Britain’s oldest independent economic research institute, the NIESR, also says that the average British citizen is now £850 worse off as a result of the decision to leave the EU.
The group also highlighted that productivity is also down as a result of Brexit, along with a ‘permanent reduction in the willingness to invest’ in the United Kingdom.
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