Economic cost of Brexit to UK worse than expected – report

Britain’s GDP took a hit of up to 8% following the departure from the EU, analysts say

Britain’s departure from the European Union reduced the country’s gross domestic product by as much as 8% by 2025, according to a working paper from the National Bureau of Economic Research (NBER). The decline was driven by sharp drops in investment, employment, and productivity, and was worse than previously forecast, the report said.

The authors of the NBER study ‘The Economic Impact of Brexit’, published this month, include economists from Stanford University, the Bundesbank, the Bank of England, the University of Nottingham, and King’s College London…

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