Brexit has “almost certainly” cost £600 per household

As we all know Brexit has not happened yet, however the UK economy already appears to be straining under the uncertainty of our withdrawal from the EU.

Food prices are rising, property prices in London are falling, sterling has dropped against other currencies and large sections banking sector appears to be planning to shift operations to Frankfurt.

Now the National Institute of Economic and Social Research (Niesr) have said that as sterling has plummeted since the vote back in June 2016, has held back the UK economy. Worryingly others nations have accelerated their growth rates.

Niesr economists have said that all of the Brexit turmoil has “almost certainly” cost £600 each per year per UK household.

These influential economists will announce today that UK GDP will only increase by 1.5 per cent in 207 and 2018 down from the 1.8 growth the previous year.

 

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