UK $1.5 Trillion Poorer Since Voting to Leave the EU

The UK is $1.5 trillion poorer since voting to leave the European Union, according to a Credit Suisse study.

Since the referendum in June the pound has weakened 16 per cent against the dollar, with plenty more misery to come according to recent reports.

Brexit Secretary David Davis recently met with the European Parliament’s chief negotiator Guy Verhofstadt to start proceedings, although it is understood he faced stern opposition.

After senior German politician Manfred Weber met Davis in Strasbourg on Tuesday he openly criticising Boris Johnson for supporting Turkey’s EU aspirations just months after the UK voted Brexit on 23 June.

He said: “It is unbelievable, frankly speaking. It is a provocation. He . . . in the Brexit campaign, had leaflets showing Turkey, Syria and Iraq as possible members of the EU, making people afraid of the possible new migration waves.

“Then a few weeks afterwards, he is travelling to Erdogan and offering support for becoming a member of the EU.

“It is a purely arrogant provocation from Johnson when he is telling us what we have to do. I cannot respect any more what he is doing,”

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