Skip to content
Subscriber Only
Markets

Carney Says Brexit Has Cost Economy `Tens of Billions' of Pounds

  • Says U.K. could ‘recouple’ with global economy this year
  • BOE governor says weaker investment holding back growth
Video player cover image

Brexit Might Have Cost U.K. Economy Billions in Lost Output

Updated on

Bank of England Governor Mark Carney said Brexit has already cost the the U.K. economy billions of pounds in lost output and it’s not benefiting yet from a global pickup.

Asked in a BBC radio interview to quantify the damage from Brexit, he said the economy is now about 1 percentage point smaller than it would have been had the 2016 European Union referendum gone the other way, and that the gap will widen to about 2 percentage points by the end of the year.