UK Is ‘On Track’ for 4% Hit to Economy From Brexit, OBR Says
- OBR says UK ‘on track’ for 4% hit to potential productivity
- Brexit supporters have faulted BOE and OBR for pessimism
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Britain’s budget watchdog said a hit to the economy from leaving the European Union is unfolding as it expected, maintaining an outlook that Brexit supporters have criticized as overly pessimistic.
The Office for Budget Responsibility on Wednesday said its long-running prediction is “broadly on track” to show a 15% fall in trade and a 4% reduction in the UK economy’s potential productivity compared to if the UK had stayed in the EU.