April 12, 2024

UK Is ‘On Track’ for 4% Hit to Economy From Brexit, OBR Says

Britain’s budget watchdog said a hit to the economy from leaving the European Union is unfolding as it expected, maintaining an outlook that Brexit supporters have criticized as overly pessimistic.

The Office for Budget Responsibility on Wednesday said its long-running prediction is “broadly on track” to show a 15% fall in trade and a 4% reduction in the UK economy’s potential productivity compared to if the UK had stayed in the EU.

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