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Hunt Contests Watchdog’s Forecast of 4% Brexit Hit to UK Economy

  • Chancellor of the Exchequer says Brexit can make nation richer
  • Says there are ‘big opportunities’ from regulatory reform
Jeremy Hunt, UK chancellor of the exchequer, departs 11 Downing Street to present the Autumn Statement at Parliament, in London, on Nov. 17.

Jeremy Hunt, UK chancellor of the exchequer, departs 11 Downing Street to present the Autumn Statement at Parliament, in London, on Nov. 17.

Photographer: Chris J. Ratcliffe/Bloomberg

Chancellor of the Exchequer Jeremy Hunt contested the UK fiscal watchdog’s projection that Brexit will reduce the size of the economy, saying the split from the European Union could actually make Britain richer.

“What I don’t accept is that the long-term impact of that decision will be to make us poorer,” Hunt said in an interview with Sky News on Thursday, when asked about the Office for Budget Responsibility’s forecast of a 4% Brexit hit relative to staying in the EU. “I don’t accept the 4%.”