The OBR has just published a new assessment of the UK's economy.
It has very damning things to say about Brexit: "In broad terms, this implies around a 4 per cent loss of potential GDP over 15 years, relative to what would have happened under existing trading arrangements."
It has very damning things to say about Brexit: "In broad terms, this implies around a 4 per cent loss of potential GDP over 15 years, relative to what would have happened under existing trading arrangements."
"We estimate that the economic effects of the referendum vote have so far reduced potential output by around 2 per cent, relative to what would have happened in its absence."
Broadly speaking, we believe that around one third of the long-run hit to productivity from Brexit has already happened, that another third is likely to come over the forecast period and the rest comes through beyond our forecast horizon."
You can read the full Executive Summary at the link below (PDF)
obr.uk/download/march…
obr.uk/download/march…
