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.
Dave Ramsden said the 2016 referendum had contributed to a lower “speed limit” for the UK economy compared to other nations.
Dave Ramsden tells MPs referendum fallout also contributed to lower speed limit for growth of UK economy.
Brexit to blame for soaring inflation, former Bank of England boss says: ‘We told you so’ 18/06/2023
Mark Carney says there is ‘no joy’ in laying this out as ‘people are having to live with that reality’.
King criticised handling of negotiations and said there was no need for the atmosphere around them to be so bad.
Financial Times US Editor-at-Large Gillian Tett says many people in the United States “are just baffled” Britain went along with Brexit, describing it as an “act of self-sabotage”. / “Britain has got the worst performance amongst the G7,” Ms Tett told Sky News Australia host Piers Morgan.
The Brexit benefits keep piling up! Leading financial experts are now placing the blame for rising food prices on you-know-what...
Overhaul increases the risks of insurance failure by a fifth, Bank of England Governor warns.
Chris Heaton-Harris says "no", leaving the EU has not damaged the economy. / Northern Ireland Secretary Chris Heaton-Harris was left struggling to defend the economic case for Brexit, after being put on the spot by Sky News’ Sophy Ridge.
New banking regulations could increase the cost of small business lending by around a third and “fundamentally change” the market as debate around the implementation of international banking rules in the UK intensifies.
Brexit created "frictions" in trade that impacted the UK economy, Work and Pensions Secretary Mel Stride has said.
The 2016 referendum result led to business investment being ‘stopped in its tracks’ and a ‘productivity penalty’ of £29bn, says Professor Jonathan Haskel.
Leaving the EU cost every household in Britain and Northern Ireland around £1,000, according to Bank of England policy-maker Jonathan Haskel.
As self-inflicted disasters go, it ranks as one of the worst in modern economic history."
Slump in business investment since vote to leave EU has cost each household £1,000 in lost productivity
A Bank of England policy maker has warned that a wave of business investment was “stopped in its tracks” by Brexit, dealing a blow to the UK economy worth £1,000 ($1,204) per households.
Bank of England policy maker Catherine Mann waded into the Brexit debate, blaming UK’s departure from the European Union for adding to inflation. / “However, the UK has also been affected by a third type of shock which makes it unique: no other country chose to unilaterally impose trade barriers on its closest trading partners,” she added.
Labour said the warning underlines the need for a ‘more productive’ relationship with Brussels following Britain’s withdrawal from the EU.
Bank of England Chief Economist Huw Pill suggested that the UK is yet to see any positive economic benefits from exiting the European Union.
The economic damage done by Brexit is happening sooner than feared, the Bank of England warned. / The central bank said the UK economy is being hindered by a sharper slump in trade with the European Union than implied by official statistics and “very subdued” business investment.
The hits to Britain's economy from Brexit are probably appearing faster than expected, Bank of England Deputy Governor Ben Broadbent said on Thursday.
‘From rhetoric to recession’: Dutch press say Britain is now facing economic realities of Brexit 20/01/2023
Labour shortages have made inflation more persistent, Joost Derks said, putting Britain's economy in a slippery slope.
If inflation stays high, will the PM be honest enough to agree with the Bank of England that leaving the EU is partly to blame?
Brexit: The scorecard two years on 02/01/2023
So how is it going? In economic terms, the past year has helped differentiate the impact of Covid from the impact of Brexit. / Doing so has exposed a hefty price being paid by many firms, as well as public service employment, for dislocation of Britain from its nearest neighbour's trading bloc.
A former Bank of England policymaker suggested there may not be a need for an austerity budget had it not been for Brexit.