Brexit investment hit costs UK £29bn, says Bank of England policymaker
Brexit has dealt the UK economy a "productivity penalty" of £29bn, or £1,000 per household, a Bank of England policymaker has said.
He said the UK had "suffered much more" of a productivity slowdown than other large economies because of Brexit.The Bank of England declined to comment.was asked why he thought the UK was an "extreme outlier" when it came to facing a slowdown in productivity. "If you look in the period up to 2016, it's true that we had a bigger slowdown in productivity up to 2016, but we had a lot of investment. We had a big boom between 2012-ish to 2016.Since the Brexit referendum in 2016, there has been a global pandemic, swiftly followed by an energy crisis, which has made estimating any financial impact directly related to Brexit difficult.
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