UK loses $124bn a year due to leaving EU
The UK’s exit from the European Union (Brexit) costs the country’s economy £100bn ($124bn) a year in lost investment, lost workforce and trade revenues, with the corresponding data provided by Bloomberg
According to it, last year, British GDP would have been 4 percent more if the country had remained a member of the EU. The UK also lost approximately 370,000 EU workers.
“Did the UK commit an act of economic self-harm when it voted to leave the EU in 2016? The evidence so far still suggests it did,” noted economists Ana Andrade and Dan Hanson.
Earlier, the Centre for European Reform reported that the UK’s exit from the EU had cost £33bn ($40bn) by June last year.
“Brexit has obviously had a significant negative impact on the [UK] economy,” said Centre’s Deputy Head John Springford.
