A slump in business investment since Brexit has cost the UK around £29bn, or £1,000 per household, a Bank of England official has warned.

written by| Juls Mcmahon

London- 13- feb. - 2023

Europ section -CJ reporte

Jonathan Haskell, a rate-setter on the Monetary Policy Committee, said Britain had “suffered much more” on productivity because of the impact leaving the EU had on business investment.

He said in an interview with newsletter The Overshoot: “If you look in the period up to 2016, it’s true that we had a bigger slowdown in productivity up to 2016, but we had a lot of investment.

“We had a big boom between 2012-ish to 2016, but then investment just plateaued from 2016, and we dropped to the bottom of G-7 countries.”

The UK narrowly avoided a recession at the end of last year as the economy flatlined, but Chancellor Jeremy Hunt warned the country is “not out of the woods”.