The Brussels Report

BREXIT - The cost of leaving the EU

BREXIT – The cost of leaving the EU

The public sector, foreign trade, banks and the construction sector, everyone in the United Kingdom is wondering what leaving the EU is going to cost them. Even before the referendum, the British Treasury provided one of the more pessimistic forecasts: tax income would drop by 45 billion pounds (€51.9bn) over 15 years. At the end of 2016, the Office for Budget Responsibility went even further indicating that by the year 2021, the United Kingdom will have to ask for additional loans of 58.7 billion pounds (€61.6bn) due to reduced migration, higher inflation and lower productivity.

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