Brexit is now hurting the British economy by £ 130 billion

Brexit is now hurting the British economy by £ 130 billion

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Brexit has so far been an expensive process, according to economists at Bloomberg Financial News. They estimate that the British economy has suffered 130 billion pounds (153 billion euros) in damage so far, and that number will be higher in the near future.

According to Bloomberg economists, investment by entrepreneurs has been on the decline since the referendum in 2016. Uncertainty about the exact departure date and uncertainty about the deal the UK should strike with the European Union would have cut economic growth in half since That moment.

Economists predict that costs will increase significantly in the near future. Although Prime Minister Boris Johnson won the election, Bloomberg estimates that by the end of 2020, damages will reach 200 billion pounds (235 billion euros).

Bloomberg used data from other G7 countries and the European Union to run the calculations. Historically, the economic growth of these countries has been closely correlated, but since the Brexit referendum, it has clearly broken that trend and the UK has slowed far behind the rest. Without Brexit, the British economy would currently be more than three percent larger.

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