Bloomberg Economics Says Brexit Cut UK Output 2%-4%, With Nearly Half Recoverable
Updated
Updated · Bloomberg · Jun 9
Bloomberg Economics Says Brexit Cut UK Output 2%-4%, With Nearly Half Recoverable
2 articles · Updated · Bloomberg · Jun 9
Summary
2% to 4% of UK economic output has been lost since Brexit, Bloomberg Economics estimated in analysis marking the referendum’s 10-year anniversary.
Almost half of that hit could be clawed back by improving trade ties with the European Union, though the study said no option short of fully reversing Brexit would restore more than half.
The estimate sits below the Bank of England’s 3.5% GDP hit and the Office for Budget Responsibility’s 4% assumption, but Bloomberg Economics still called Brexit’s effect significant and negative.
The findings land as UK politicians weigh closer links with Europe and polls show a majority now favor rejoining the EU.