Disorderly Brexit Could Have ‘Severe’ Impact, U.K. Watchdog Says
- Office for Budget Responsibility outlines fallout in new paper
- Says studies suggest Brexit vote has cost U.K. 2-2.5% of GDP
This article is for subscribers only.
The U.K. could experience shortages of vital imports, a sharp fall in the pound and higher prices in the shops in the event of a disorderly Brexit, according to the Office for Budget Responsibility.
The fiscal watchdog issued the warning Thursday in a paper outlining the task it faces to assess the economic and fiscal consequences of Britain leaving the European Union.