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The UK’s final post-Brexit border checks will cost food importers hundreds of millions of pounds under the government’s own internal estimates, adding to upward pressure on inflation.
Three food parcels are handed out to struggling households every minute, as Tesco boss warns worst of supermarket price rises are ‘yet to come’.
The UK has experienced a sharp slowdown in income growth while inflation has risen, warns the Resolution Foundation think tank.
THE former CEO of Sainsbury’s has been clear about what initially caused the cost of living crisis – telling Sky News that Brexit is to blame.
Former Bank of England governor, Mark Carney said that the fall in the pound and shrinking economy after the UK left the European Union, Brexit, had added to “inflationary pressure”.
Senior Tory Simon Hoare tells i that ripping up Brexit deal in a cost of living crisis would not be ‘grown-up statecraft’.
A town hall will need to stump up an extra £38m for its new wave of council homes due to soaring costs.
Former Bank of England governor Mark Carney has doubled down on his claims Brexit has taken a toll on the pound and sparked higher inflation.
The threat of persistent inflation is bigger in the UK than in Europe and the US, a Bank of England rate setter has said. / Megan Greene warned that the UK had faced a “double whammy” in dealing with both a tight jobs market and a trade shock. / She said that the supply side of the market in the UK had been left weaker than in the US in recent years because of Brexit and the pandemic.
The clip was filmed in 2018 as part of a three-part documentary on the US embassy called Inside the American Embassy.
As evidence mounts of the long-term harm being inflicted on the U.K. economy by Brexit, the government is coming under pressure to acknowledge the elephant in the room.
Britain’s economy is forecast to shrink by 0.4% in 2023, more than any other in the Group of Seven richest nations, according to the Organization for Economic Cooperation and Development (OECD). Britain is the only G-7 member whose economy has yet to return to pre-pandemic levels.
Boris Johnson’s government faces deep economic problems. / UK lagging behind major peers on productivity and investment. / “... From a 16% devaluation of the pound to an eye-watering slide in trade and investment, Brexit’s impact is plain to see. The data have only reinforced our view that life outside of the EU would leave the UK worse off.”
Britain has delayed imposing its full post-Brexit import controls on goods from the European Union again, pushing it back until the end of next year, saying it did not want to add more fuel to fast-rising inflation.
Wages are worth less as direct result of departure from EU, says Monetary Policy Committe member. / Brexit has added 6 per cent to UK food prices, a Bank of England official has said as inflation hit a 41-year high.
The UK will be stuck with searing inflation for years because of Brexit, according to strategists at Wall Street’s top banks.
From NHS staff shortages to export woes, the effects of the 2016 vote are still being felt.
The Allianz Trade economic insights paper said post-Brexit import charges would add a £2billion bill for Britons and push up inflation.
From the outside, nothing much has changed yet. From the inside, however, the UK has undergone a radical and at times ugly transformation. The June 2016 referendum has helped set off a chain of events that has impacted many aspects of life in the country.
The former chancellor said Vote Leave misled people by saying the UK would be better off in financial terms outside of the EU.
UK’s exit from EU helped fuel inflation crisis, says top US economist Larry Summers.
Jacob Rees-Mogg has admitted that cutting public services was a prime reason for Brexit.
Brexit is fuelling Britain's cost of living crisis, according to the former Deputy Governor at the Bank of England Sir Charlie Bean. / Interviewed by BBC Radio 4 on Thursday, the economist said inflation appeared to be "worse" in Britain compared to other European countries.
Proposed restrictions on post-Brexit trade will pile costs onto consumers, representatives of the UK’s fresh produce industry warned.
Mark Carney says there is ‘no joy’ in laying this out as ‘people are having to live with that reality’.