Brexit will cost the British economy around 100 billion pounds a year, according to economists from the data and news agency. bloomberg calculated. This amount has been converted into approximately 114 billion euros annually. Due to leaving the European Union, investments are under pressure and British companies face additional staff shortages.
According to economists Ana Andrade and Dan Hanson, the British economy will now be 4 percent smaller than it would have been without Brexit. They believe that leaving hit the British economy faster than previously expected.
Hanson and Andrade estimate that had the UK stayed in the EU, it would have around 370,000 more workers from other EU member states than it does now. According to them, this deficiency can only be partially compensated for by the arrival of immigrants from outside the European Union.
With their findings, the economists contradict the claims of Treasury Secretary Jeremy Hunt. He had said that Brexit was just beginning to pay off for the British economy. He described the exit earlier this week as a “huge opportunity”.
By severing ties with the EU, Prime Minister Rishi Sunak said the UK could create free havens to boost trade and reform financial services rules in favor of City of London banks.
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